India targets 300 million tonnes steel capacity by 2030; explores green steel collaboration with Sweden

India is gearing up to achieve an ambitious milestone of 300 million tonnes (MT) of crude steel production capacity by 2030, Union Minister of State for Steel Bhupathiraju Srinivas Varma announced during a high-level meeting with Swedish officials. The meeting, held in the presence of Sweden’s State Secretary to the Minister for Energy, Business and Industry, Sara Modig, and Swedish Ambassador to India Jan Thesleff, focused on strengthening collaboration in green steel production and advanced technologies to reduce carbon emissions.

Highlighting India’s strong steel growth trajectory, Varma said the sector’s expansion reflects the vision of Prime Minister Narendra Modi’s leadership, which continues to drive large-scale infrastructure projects across the country. India’s domestic steel demand has been growing at an impressive rate of 11–13% annually, even as global steel demand remains subdued. This growth is largely fuelled by investments in highways, railways, housing, and renewable energy infrastructure.

During the discussions, both nations explored research and development (R&D) opportunities in sustainable steelmaking, with a particular focus on reducing emissions through green hydrogen and innovative production technologies. The minister also reaffirmed India’s invitation to Sweden to participate in Bharat Steel 2026—an international conference and exhibition dedicated to the steel industry—scheduled to take place at Bharat Mandapam, New Delhi, on April 16–17, 2026.

According to data released by the Ministry of Commerce and Industry, India’s eight core industries registered a growth rate of 3% in September 2025, with the steel and cement sectors recording robust performances. Steel production surged by 14.1% during the month compared to the same period last year, driven by strong infrastructure demand. Between April and September of FY2025–26, the cumulative growth in steel output stood at 11%.

To safeguard the domestic market, the government imposed a 12% temporary safeguard duty on select steel imports earlier this year. These measures, aligned with the ‘Make in India’ initiative, aim to protect the industry while fostering self-reliance and positioning India as a global leader in sustainable steel production.