Forecast: Nominal Crude Steel Production Capacity in India

In 2023, India's nominal crude steel production capacity stood at 146.00 million metric tons. Over the forecast period, from 2024 to 2028, a steady expansion is expected with year-on-year growth rates as follows: 2024 shows a 2.50% increase, 2025 with a 2.62% increase, 2026 grows by 2.51%, 2027 by 2.40%, and 2028 by 2.29%. The compound annual growth rate over this five-year period is projected to be approximately 2.46%.

Future trends to watch for include:

• Increased emphasis on environmentally sustainable production methods.
• Investment in advanced manufacturing technologies to improve efficiency.
• Potential infrastructure boosts due to government projects and economic policies.
• Impact of global market dynamics, such as trade policies and demand fluctuations.