Friday, January 1, 2016

Make in India - Steel - $20 Trillion Economy Opportunity

In 2013 India produced 81 million tonnes of steel.
China* produced 779 million tonnes in 2013.

By year 2026, India needs to have 300 million tonnes capacity and is planning for it and there is a steel policy being put in place to make available inputs for that capacity.

1 April 2015

Picture source:
The Prime Minister, Shri Narendra Modi addressing at the dedication ceremony of the Rourkela Steel Plant to the Nation, in Odisha on April 01, 2015. The Chief Minister of Odisha, Shri Naveen Patnaik, the Union Minister for Tribal Affairs, Shri Jual Oram and the Minister of State for Mines and Steel, Shri Vishnu Deo Sai are also seen.

PM Narendra Modi inaugurated the additional capacity of 2.5 million tonnes created at the Rourkela Steel plant of Sail at an investment of Rs.12,000 cr.

PM reiterated his government commitment to the steel policy and stated that SAIL will have a capacity of 50 million tonnes by 2025. He mentioned that there is lot more scope in India to produce steel as China presently producing 780 million tonnes per year.


April 2015

21 April 2015

At the time of its release, the National Steel Policy 2005 had envisaged steel production to reach 110 million tonnes (mt) by 2019-20. However, based on the assessment of the current ongoing projects, both in greenfield and brownfield, the Working Group on Steel for the 12th Five Year Plan has projected that domestic crude steel capacity in the county is likely to be 140 mt by 2016-17 and has the potential to reach 149 mt if all requirements are adequately met.

The National Steel Policy 2005 is currently being reviewed keeping in mind the rapid developments in the domestic steel industry (both on the supply and demand sides) as well as the stable growth of the Indian economy since the release of the Policy in 2005.

19 April 2015

World Steel Association Director General Edwin Basson said  in Mumbai that the future of the Indian steel industry is bright in the context of  government's target of trebling the steel output to 300 mt by 2025, and the No 2 world producer slot by 2020.

1 Jan 2016

Steel price on 31 Dec 2016

$170 for tonne

One million tonne capacity requires one billion dollars.

The turnover from steel industry will be 51 billion dollars.

Updated 1 Jan 2016, 21 April, 19 April, 5 April , 15 Feb 2015

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