India drafts long term steel policy to 2047

India has issued a draft National Steel Policy, titled Vision 2047, and opened it for public consultation. The draft sets a long term target of 604 million metric tonnes of crude steelmaking capacity by 2047. This represents a large planned expansion from around 220 million tonnes of installed capacity at present.

The consultation process is intended to gather stakeholder views before the policy is finalised. Vision 2047 is framed as a long range roadmap for the structure, scale and sustainability profile of India’s steel industry.

A central goal of the draft policy is to reduce the carbon emission intensity of steel production. The document sets a target of about 1.54 tonnes of carbon dioxide per tonne of crude steel by 2047. This compares with an estimated current level of about 2.54 tonnes per tonne of crude steel.

By specifying a sector wide intensity objective, the draft signals an emphasis on decarbonisation pathways for steelmakers. The policy links the capacity expansion agenda with structural measures aimed at lowering emissions per unit of output over the coming decades.

To support the higher steel capacity and production envisaged in 2047, the draft policy quantifies raw-material needs. It projects iron ore demand of about 772 million tonnes by that year. For coking coal, demand is projected at around 236 million tonnes by 2047.

These figures are presented as indicative of the scale of upstream resources required if the steel capacity and output targets are to be met. The projections underline the importance of reliable access to both iron ore and coking coal for the sector’s long term planning.

To meet the projected iron ore and coking coal requirements, the draft proposes a set of measures to secure raw material supplies. It calls for acquiring or partnering in overseas mining and related assets. It also highlights the role of joint ventures as part of this effort.

Beyond specific asset strategies, the policy stresses diversified sourcing through what it terms strategic global outreach. This approach is intended to broaden supply options for key inputs while the domestic steel industry scales up capacity and works toward lower emission intensity.