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India produces 27 million tonne steel in January to March 2019

May 6,2019

India's steel production fell by about 0.3 percent to 27.33 million tonnes during the first quarter of the calendar year 2019, according to data from the World Steel Association. During the January-March 2018 period, the country had produced 27.40 million tonnes of crude steel, the data showed.

 

In January, India had produced 9.18 million tonne steel, down 1.9 percent as compared with 9.35 million tonnes in the corresponding month of 2018. The country in February 2019 reported a rise of 2.3 percent to 8.74 million tonnes as against 8.54 million tonnes in the year-ago month. In the subsequent month, the output fell one percent to 9.41 million tonnes, from 9.50 million tonnes in March 2018.

 

In 2018, India's annual production of crude steel had stood at 106.5 million tonnes, up 4.9 percent from 101.5 million tonnes it had produced in 2017.

 

India is the second-largest producer of steel in the world after China, which produced 80.33 million tonnes during January-March 2019. India has set an ambitious target of scaling up its steel production capacity to 300 million tonnes.

 

In May 2017, the Union Cabinet also the approved two policies, including the National Steel Policy 2017 that envisaged Rs 10 lakh crore investment to take capacity to 300 million tonnes by 2030-31, to give a boost to the domestic steel sector.

 

The World Steel Association is one of the largest industry associations in the world. Its members represent around 85 percent of the world's steel production, including over 160 steel producers with 9 of the 10 largest steel companies, national and regional steel industry associations, and steel research institutes.