India to overhaul Japan as top Steel producer by 2025-30

INDIA July 18 2017 3:21 PM

MUMBAI (Scrap Register): India, the second largest Steel producer in the world, is planning to increase the production to 300 million tons of steel by 2025-2030 and is looking forward to overtake Japan to the top Steel producing nation in the world, as per Tata Steel official.

Japan produces around 103 million tons a year which makes them the largest Steel producer in the world and India at the second place produces about 90 to 95 million tons per year.

India is all set to overtake Japan in next couple of year. The country has also targeted to produce 300 million tons of steel by 2025-30, as per Dr T Venugopalan, Technical Advisor to Tata Steel Managing Director.

India's Steel consumption during the first quarter of the current fiscal was seen at 21 million ton, an increase of about 4.6 percent when compared to the corresponding period in 2016. The Steel exports from India during April to June period also increased by about 66 percent.

The imports of total finished Steel in the country during June quarter was seen at about 1.715 mt, a decline of about 6.4 percent when compared to the corresponding period during 2016. 

Overall imports during June were 0.653 mt, which increased by about 17 per cent over May and increased year on year by 3.2 per cent against June 2016.