The Indian steel industry remains at a spotlight in the global arena, flourishing at a healthy growth of 8.2% in 2024 supported by infrastructure investment, government spending and support from end use industries. With over 60% of essential coking coal currently imported, there is a significant opportunity to strengthen economic and strategic resilience. Additionally, navigating trade dynamics, such as the influx of duty-free steel imports from FTA countries, will be essential for maintaining domestic market stability. Increasing the domestic market’s steel intensity remains vital to capitalize on these opportunities.
The industry’s commitment to sustainability and compliance with international regulations like the Carbon Border Adjustment Mechanism (CBAM) opens avenues for innovation and investment in low-carbon technologies.
With the theme “Viksit Bharat: Developing an Atmanirbhar and Globally Competitive Steel Sector”, this summit will explore intertwined issues by exploring strategies to secure raw material supply, enhance the domestic demand and navigate global trade dynamics while simultaneously advancing towards a sustainable, low-carbon future.