India reached 205 million tons of annual steel production capacity in the fiscal year 2024/2025, eyeing 300 million tons by the fiscal year 2030/2031, according to MP Financial Advisory Services data. 

The world's second-largest steelmaker is growing faster: 5% annual average (2016-2024) vs China's 2.76% and global 1.77%, accelerating to 8% after 2020 as China's output fell.

167 million tons of capacity expansions are planned by 2030, with 83% from the private sector. The government supports via raw material supply and PLI-driven specialized steel production. 

Challenges include 85% reliance on imported coking coal, scrap shortages, high carbon intensity, and cheap imports. However, India is working on modernizing production, green technology, as well as developing the domestic market.