New Delhi [India], November 4 (ANI): With hydrogen prices declining faster than anticipated, India could see hydrogen becoming a viable alternative to natural gas within the next five to ten years, making this route central to the country’s decarbonisation and global competitiveness goals, according to Union Steel Secretary Sandeep Poundrik.
Delivering a keynote address at CII Steel Summit 2025, Poundrik stated that the steel sector is at heart of India’s sustainability journey focusing on decarbonisation through cleaner technologies. He further said that “DRI plus Hydrogen” route offers a promising pathway for green steel production.
Poundrik noted that there are significant opportunities for investments in the steel industry, driven by growing needs from sectors such as defence, space, automotive and power – all of which are expanding rapidly and increasing demand for high-grade steel products.
The Union Steel Ministry Secretary said that it is a misconception that India’s steel industry is driven only by a few large producers. In fact, nearly 47 per cent of the steel in the country is produced by around 2,200 medium and small enterprises, he said adding that these players form the backbone of India’s distributed and resilient steel ecosystem.
“There is a strong need for India to achieve self-reliance in Steel sector, given its strategic significance. Ministry of Steel is working closely with the Ministry of Coal to increase the share of domestic coking coal in steelmaking, ensuring greater self-reliance and security in raw material supply. The government is also taking proactive measures to ensure that cheap and substandard steel does not flood the Indian market. Through Quality Control Orders (QCOs), we are creating a level playing field where both domestic and foreign producers meet the same quality benchmarks,” Poundrik said.
Consistent growth in consumption and capacity along with rising opportunities from specialty steel and green steel, India is on its way to achieve the target of 500 million tonnes by 2047, he added.
“Aligned with the vision of Viksit Bharat, our target is to reach 500 million tonnes steelmaking capacity by 2047. At the current pace, we would be adding around 100 million tonnes every five to seven years, positioning India to not only meet domestic demand but also emerge as a global leader in sustainable steel production,” said Poundrik.
Koushik Chatterjee, Co-Chairman, CII National Committee on Steel and Executive Director, Tata Steel Ltd, highlighted that steel forms the backbone of India’s industrial transformation and national resilience. As the foundation for construction, transport, energy, and manufacturing, the sector will be pivotal in shaping world-class infrastructure, modern cities, and sustainable growth. He noted that under the National Steel Policy, India aims to achieve 300 million tonnes of capacity by 2030-31 and 500 million tonnes by 2047, positioning steel at the heart of the country’s development agenda.
Emphasizing India’s demographic advantage and the structural reforms like GST 2.0 fueling new consumption opportunities, Jayant Acharya, Co-Chairman, CII National Committee on Steel and Joint Managing Director & CEO, JSW Steel Ltd, noted that rapid urbanisation, a growing middle class, and rising discretionary spending are creating strong demand prospects for the steel industry.
He underlined that the future growth of India’s steel sector rests on three key pillars – strategic investment, self-reliance, and sustainability – which together will ensure both economic and environmental resilience.
Highlighting the close linkage between steel demand and GDP growth, Acharya observed that the industry’s elasticity with GDP has remained around 1.5 times in recent years, reflecting its deep integration with India’s economic trajectory.
He further stressed that every steel plant acts as a catalyst for regional development by generating livelihoods and uplifting local communities. With abundant raw materials, skilled manpower, and a robust domestic market, Acharya affirmed that India holds a unique advantage to build a globally competitive and self-reliant steel ecosystem.
The summit brought together industry leaders, policymakers, and experts to discuss the evolving landscape of India’s steel sector – from capacity expansion and green steel initiatives to innovation, self-reliance, and the sector’s pivotal role in nation-building. (ANI)
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