Domestic Demand Drives India’s Steel Sector in H1 FY 2026–27

The Ministry of Steel released data showing that India's steel sector grew during the first half of financial year 2026–27, driven by domestic demand. Crude steel production reached 85.1 million tonnes (Mt) and finished steel consumption stood at 85.0 Mt during April–September 2026. India remained a net importer of finished steel in quantity terms during this period, with China and Korea as major import sources. The report highlights policy and industry developments, including the draft National Steel Policy – Vision 2047, subsidiary formations at GIFT City by NMDC and SAIL, skill development initiatives under the PM-SETU scheme, green steel certification updates, international energy cooperation with Russia, and raw material production milestones by MOIL.