India Drafts Steel Policy Targeting 604 Million Tonnes by 2047

India has released a draft steel policy for public consultation that targets 604 million tonnes of steelmaking capacity by 2047, up from about 220 million tonnes currently. The National Steel Policy Vision 2047 also proposes measures to lower emissions intensity and improve access to raw materials as the industry expands. The draft projects average emissions intensity will fall from 2.54 tonnes of carbon dioxide per tonne of crude steel to about 1.54 tonnes by 2047. The target is aligned with India’s goal of reaching net-zero emissions by 2070, according to the policy document. The projections are goals in a draft, not results already achieved. Steel production growth would require substantially more raw materials. The ministry projects annual coking-coal demand of 236 million tonnes and iron-ore demand of 772 million tonnes by 2047. India currently imports about 92% of its coking-coal requirement, while the draft describes the country as largely self-sufficient in iron ore.