Prime Minister Narendra Modi has urged India’s steel industry to set its sights on becoming a net exporter and aim for zero imports, positioning the sector as a foundational pillar of the Viksit Bharat 2047 vision. Addressing the India Steel 2025 conference virtually on Thursday, the Prime Minister laid out an ambitious roadmap, calling for steel production capacity to expand to 500 million tonnes by the centenary of India’s independence.
“The steel industry is behind every success story in India,” PM Modi said, noting its integral role in infrastructure, housing, and national economic growth. He added that the sector is critical to India’s pursuit of becoming a $5 trillion economy.
Domestic Steel in Focus for Infrastructure Growth
Reiterating the government’s push for self-reliance, PM Modi highlighted that all major government initiatives, including PM Gati Shakti and PM Awas Yojana, now mandate the use of Made-in-India steel. The aim is to ensure that public infrastructure projects drive demand for domestic manufacturing while minimising import dependency.
The Prime Minister also urged both public and private players in the steel sector to invest in R&D and innovation, stressing the need for the industry to be “future-ready” and globally competitive.
Also read: India Targets 300 MT Steel Capacity by 2030
Import Surge Prompts Safeguard Duty
India’s call to reduce steel imports comes amid rising inbound volumes. According to government data, finished steel imports rose by 20.3% to 8.29 million tonnes during April 2024–January 2025, up from 6.89 million tonnes the previous year. In contrast, steel exports fell by 28.9%, from 5.6 million tonnes to 3.9 million tonnes.
To curb this trend, India has imposed a 12% safeguard duty on certain steel imports for 200 days, citing concerns that cheap steel from China could flood the market following the U.S.’s imposition of a 145% tariff on Chinese steel.
Domestic producers have repeatedly flagged unfair pricing practices by exporters, which they argue are eroding the competitiveness of Indian steelmakers.
Steel Sector Positioned as Growth Engine
With policy, investment, and capacity planning aligned, PM Modi framed the steel industry as central to India’s aspirations for long-term economic leadership. The government’s push for production-linked growth, infrastructure-led demand, and tighter trade protections reflect an evolving strategy to make India a net exporter of steel in the coming decades.
