Reuters reports India released the draft for public consultation; current steel capacity is around 220 million metric tons.
Reuters reports India released a draft steel policy for public consultation, aiming to raise steel capacity from around 220 million metric tons at present to 604 million metric tons by 2047.
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India’s government released a draft steel policy for public consultation on Oct. 11, Reuters reported. The proposal sets a 2047 target of 604 million metric tons of steelmaking capacity, compared with about 220 million metric tons now.
The draft pairs that expansion with a lower emissions-intensity target. According to Reuters, it calls for reducing average carbon emissions from 2.54 metric tons of carbon dioxide per metric ton of crude steel to about 1.54 by 2047.
The document frames that reduction as part of India’s broader goal of reaching net-zero emissions by 2070. The draft therefore combines a higher capacity target with a lower per-ton emissions target.
The draft also projects demand for the raw materials used in steelmaking. The steel ministry expects iron ore demand to reach 772 million metric tons. To secure high-grade reserves, it proposes pursuing foreign assets and joint ventures.
Coking coal demand is projected to reach 236 million metric tons. The document calls for diversifying supply through what it describes as “strategic global outreach,” along with acquiring overseas assets. Those resource proposals accompany the draft’s 2047 capacity and emissions goals.
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