It was reported that Indian steel sector occupied GDP by 2%; meanwhile, India was the third largest steel production nation in the world. By estimated, the consuming quantity for steel was about 95.4 million tons in 2018, increasing by 7.5% compared to the same period in 2017. Also, it was predicted to be 102.3 million tons demand on steel in 2019 and the growth rate was estimated to be 7.2% this year.

Indian steel ministry started the talks with some major mills in South Korea and Japan. Based upon the source, Indian mill, Rashtriya Ispat Nigam (RINL) would cooperate with South Korean and Japanese companies and invest around 300 billion rupees to build a plant in Vizag city with capacity of 5 million tons. This plant would mainly produce some high-end steel in automobile sector to replace some import steel now.

According to the data announced by the World Steel Association, the production of crude steel from the first quarter to the third quarter in 2018 increased by 4.7% year over year. Among them, China ranked the number one, and India replaced Japan to be the second.

Indian government even planned to increase the steel-making capacity from 134 million tons to 300 million tons by 2030. India is playing a more important role in global steel development nowadays.