Provisional figures released for the April–March 2024–25 period paint an optimistic picture:

• Crude steel production surged to 151.14 million tonnes (MnT), reflecting a 4.7% increase year-on-year.
• Finished steel consumption hit 150.23 MnT, a robust 10.2% rise, driven by infrastructure, real estate, and manufacturing activities.
• Pig iron and hot metal production registered growth of 12.7% and 4.6% respectively—testament to the upstream strength supporting steelmaking.
• Imports rose to 9.53 MnT (↑14.6%), while exports fell sharply to 4.86 MnT, a 35.1% drop—a clear indication of India’s internal demand absorbing much of its output.

This surge is more than statistical—it reflects India’s maturing industrial base, its government’s focused push on self-reliance through initiatives like Make in India, and the appetite for high-grade infrastructure development that fuels sustained steel consumption.

In sharp contrast, the European Union finds itself in a bind. According to data from GMK Center, more than 9 million tonnes of steel capacity remains idle across the EU. Energy costs, emissions regulations, and shrinking demand have disrupted production cycles, leaving mills underutilized and margins under pressure.

While Indian steelmakers ramp up capacity and build towards net-zero goals with technology-backed transitions, Europe

appears caught in the turbulence of a shifting policy and market environment. The juxtaposition couldn’t be starker—where India sees opportunity, Europe sees overcapacity.

The global steel map is undergoing a quiet but significant realignment. India is no longer just a fast-growing market—it is fast becoming a central pillar of the future global steel economy. With rising consumption, planned capacity expansions, and a push towards sustainable technologies, India is charting a path that balances growth with responsibility.

However, this path is not without challenges. The decline in exports must be addressed through enhanced competitiveness, higher-value products, and strategic trade alliances. Additionally, navigating raw material security and environmental compliance will be crucial as India aims for long-term leadership.

India’s performance in FY 2024–25 is more than a positive yearend report—it is a signal of steel’s centrality in India’s economic growth. While the global steel landscape remains volatile, India’s measured, domestic-demand-driven growth offers a blueprint for resilience.

As stakeholders across the value chain—from miners to mills— align towards common goals of sustainability, self-reliance, and global relevance, India is poised not just to participate in the global steel narrative, but to shape it.

Steel & Metallurgy is proud to be a Media Partner at the upcoming India Steel Exhibition 2025, taking place on April 24th- 26th at the Bombay Exhibition Centre (NESCO), Mumbai. We warmly welcome all delegates, exhibitors, and visitors to visit us at the event. Join us as we celebrate innovation, collaboration, and the future of steel in India!

Let’s connect, converse, and contribute to the growth of the industry—see you at India Steel 2025!