# India Releases Draft Steel Policy Targeting 604 Million Tonnes Capacity by 2047

- URL: https://stocks.freetheai.org/news/india-releases-draft-steel-policy-targeting-604-million-tonnes-capacity-by-2047-b907a2
- Published: 2026-10-17T09:45:18Z
- Category: commodities; sentiment: bullish; impact: medium
- Symbols: [NSE:RHIM](https://stocks.freetheai.org/symbols/NSE-RHIM), [LSE:RHIM](https://stocks.freetheai.org/symbols/LSE-RHIM)
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The Indian government has released the draft National Steel Policy 2047, establishing a long-term roadmap to boost national crude steel capacity to 604 million tonnes. Under the proposed framework, finished steel demand is projected to rise to 505 million tonnes, per capita consumption to reach 302 kg, and steel exports to expand to 45 million tonnes by 2047 while addressing import challenges and enhancing industry competitiveness.

The policy emphasizes decarbonisation and circular economy practices, aiming to cut average carbon emission intensity from 2.54 to roughly 1.54 tonnes of CO2 per tonne of crude steel across four phases. Industry leaders at RHI Magnesita India Limited (NSE:RHIM) highlighted the policy's recognition of refractory recovery and magnesite raw material security as crucial steps toward building a resilient steel ecosystem. The guidelines also target value-added production, specialty steel, technological modernization, and support for small and medium enterprise clusters.

Going forward, investors will watch for the announcement of specific timelines across the four decarbonisation phases, policy incentives for secondary steel producers, and capital investment commitments in domestic specialty steel manufacturing.

## Key points

- The draft National Steel Policy 2047 targets increasing India's crude steel capacity to 604 million tonnes.
- Steel carbon emission intensity is planned to drop from 2.54 to about 1.54 tCO2/tcs across four phases.
- Domestic finished steel demand is projected to reach 505 million tonnes and exports 45 million tonnes by 2047.
- The framework focuses on raw material security, refractory recycling, specialty steel, and MSME cluster support.

## Questions and answers

### What are the key capacity targets in the draft National Steel Policy 2047?

The policy aims to expand India's crude steel capacity to 604 million tonnes and boost finished steel demand to 505 million tonnes by 2047.

### How does the draft policy aim to reduce emissions in the steel sector?

It targets lowering average carbon emission intensity from 2.54 to about 1.54 tonnes of CO2 per tonne of crude steel across four stages by 2047.