Ministry of Steel

2024-25 Policy Updates

PLI for Specialty Steel

Outlay : ₹6,322 Cr
Duration : 2023-24 to 2027-28
Products : 5 categories of specialty steel
Investment : ₹30,000 Cr expected
Employment : 5.25 lakh additional jobs

National Steel Policy 2017 - Progress

Crude Steel Capacity : 179 MT (Dec 2024)
Target : 300 MT by 2030
Per Capita Consumption : 87 kg (target 160 kg)
Production : 145 MT (2023-24)

Green Steel Initiatives

Hydrogen DRI : Pilot projects at SAIL
Target : Net Zero by 2070 aligned
Carbon Capture : Pilot at Rourkela
Scrap Policy : Enhanced to promote recycling
Renewable Energy : 35% of steel sector energy

Steel Scrap Recycling Policy

Registered Recyclers : 500+
Collection Centres : 100+ established
Scrap Utilization : 30 MT target by 2030
Quality Standard : BIS specification notified

Steel Development Fund

R&D : Focus on advanced steel grades
HPC Recommendations : Implementation ongoing
SAIL Modernization : ₹60,000 Cr investment

Domestic Steel Usage

DMI Policy : Mandatory for government projects
Preference : Class-I (100% domestic) and Class-II
Infrastructure Push : Railways, roads, metro
Defence : Special steel development