Steel as the Backbone of Economic Growth
Prime Minister Narendra Modi has repeatedly underlined the strategic importance of steel to India’s development journey. Describing steel as the “skeleton” of modern economies, he has emphasised its role in building skyscrapers, highways, high-speed rail networks, ports, smart cities and industrial corridors.
Speaking during India Steel 2025, the Prime Minister highlighted that India’s ambition of becoming a $5 trillion economy is closely linked to the strength of its steel sector. He also expressed pride in India’s status as the world’s second-largest steel producer, a position achieved through sustained capacity expansion and rising domestic demand.
Ambitious Targets and Structural Reforms
India’s leadership in steel is rooted not only in scale but also in ambition. The country has set a target of achieving 300 million tonnes (MT) of steel production capacity by 2030 and 500 MT by 2047, aligned with the vision of Viksit Bharat. Demand continues to grow across infrastructure, housing, railways, defence manufacturing and the energy sector.
However, policymakers acknowledge that achieving these targets will require more than just adding capacity. Secure access to raw materials, predictable regulatory frameworks and innovation-led modernisation are seen as critical enablers. Strengthening domestic mineral beneficiation, reducing dependence on imported coking coal, improving logistics and streamlining approvals form the backbone of India’s supply-side strategy.
PLI Scheme and Shift to Value-Added Steel
A major policy intervention reshaping the sector is the Production Linked Incentive (PLI) scheme for specialty steel. The scheme is aimed at moving India away from commodity-grade output towards high-value, precision-engineered steels that are essential for sectors such as aerospace, automotive, defence and advanced infrastructure.
Officials believe this shift will enhance India’s competitiveness in global markets while reducing import dependence for critical steel grades. It also aligns with the broader goal of building resilient and self-reliant industrial ecosystems.
Green Steel at the Core of Competitiveness
Sustainability will be a central theme at Bharat Steel 2026. The Ministry of Steel’s Green Steel Roadmap 2024 outlines a comprehensive transition plan that includes clean energy integration, green hydrogen pilot projects, carbon capture, utilisation and storage (CCUS), expanded use of steel scrap and exploration of emerging technologies such as direct electrolysis.
As global trade increasingly moves towards carbon accounting and emissions-linked regulations, India aims to position itself as a reliable exporter of low-emission, high-grade steel. The National Steel Strategy prioritises joint ventures and international collaborations in hydrogen-based direct reduced iron (DRI), CCUS and next-generation steelmaking technologies.
Digitalisation and Innovation Take Centre Stage
Digital transformation is expected to be another major focus of the summit. Technologies such as Internet of Things (IoT)-based monitoring, robotics, automation and predictive maintenance are already reshaping steel plants by improving efficiency, reducing waste and enhancing product quality.
Artificial intelligence-driven optimisation and data analytics are being increasingly deployed to lower energy consumption and improve operational resilience. This technology push will be supported by expanded R&D efforts, deeper industry-academia partnerships and clearer pathways for technology transfer and pilot-scale trials.
A Global Platform with Strategic Significance
The Bharat Steel Summit is expected to host over 700 global delegates representing every segment of the steel value chain. Partner Country and Partner State Pavilions, public sector Maharatnas, leading private companies, start-ups, scale-ups, innovators and investors will contribute to the event’s breadth and depth.
The summit’s overarching objective is to strengthen India’s role in shaping a global roadmap for a steel sector that is secure, competitive, climate-aligned and future-ready.
