Ministry of Steel H1 FY27 Performance Update

India’s steel sector recorded steady demand-driven growth in the first half of FY27, according to data from the Ministry of Steel. Finished steel consumption rose 7.6% year-on-year to 85 million tonnes (Mt) during April–September FY27, supported by a 7.7% YoY increase in September alone to 14.4 Mt. Over the H1 FY27 period, crude steel production grew 2.9% to 85.1 Mt—against a national crude steel capacity of 223 million tonnes per annum (Mtpa)—while finished steel production expanded 4.1% to 82 Mt. Alloy steel output surged 32% to 5.83 Mt. On the trade front, finished steel exports rose 26.2% to 3.55 Mt, with total export value climbing 28.9% to ₹28,263.7 crore ($2.98 billion), led by strong demand from top destination markets including the United Arab Emirates (UAE), Vietnam, and Italy. To guide long-term structural expansion, the Ministry of Steel formulated the draft National Steel Policy (Vision 2047), targeting a total crude steel capacity of 604 Mt, per capita consumption of 302 kg, and annual exports of 45 Mt by 2047, alongside a reduction in carbon emission intensity from 2.54 to ~1.54 tonnes of CO₂ per tonne of crude steel. Sectoral operational achievements included MOIL Limited logging its highest-ever first-half manganese ore production of 0.96 Mt. Under the Green Steel Initiative, 104 steel producers received Green Steel Certificates through October 2026, with most certified products earning 5-star ratings. Additionally, state-owned mining and steel majors NMDC and Steel Authority of India Limited (SAIL) established subsidiaries at GIFT City, including NMDC Global IFSC Limited to finance overseas critical mineral acquisitions.