India targets 604 MT steel capacity by 2047, seeks to cut coking coal import dependence

India envisages a near threefold expansion in crude steelmaking capacity to 604 million tonnes MT by 2047 and raise finished steel demand to 505 MT while reducing dependence on imported coking coal according to the draft National Steel Policy Vision 2047 The policy framework projects per capita steel consumption rising to 302 kg from the current 116 kg Indias crude steel production has already increased from 89 MT in 2014-15 to 170 MT in 2025-26 while installed steelmaking capacity has reached approximately 220 million tonnes per annum MTPA