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India to Reassess Import Curbs on Steelmaking Raw Materials

India plans to revisit import restrictions on steelmaking raw materials.

Published

1 year ago

August 30, 2024

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India is preparing to hold further discussions on the import restrictions imposed on raw materials essential for steelmaking. The move reflects ongoing considerations about the impact of these trade regulations on the steel industry and the broader economic landscape.

The Indian government is reassessing its policy on import curbs to balance domestic industry needs with global trade dynamics. These restrictions have been a topic of debate, with industry stakeholders expressing concerns over their implications for raw material supply and steel production costs.

The discussions aim to address several critical factors, including the availability of essential raw materials, the competitiveness of the Indian steel industry, and the overall economic impact of the current trade regulations. By revisiting these import curbs, the government seeks to ensure that the steel sector can operate efficiently while supporting the growth of domestic production capabilities.

The outcome of these talks will be crucial for steel manufacturers who rely on imported raw materials to meet production demands. Adjustments to import policies could influence steel prices, production volumes, and the industry’s ability to compete in the global market.

India’s approach to these import restrictions reflects a strategic effort to refine trade policies that support both the domestic steel industry and broader economic objectives. The government’s engagement in discussions indicates a commitment to addressing industry concerns and optimizing trade regulations in line with evolving market conditions.

In summary, India’s intention to reassess import curbs on steelmaking raw materials highlights the ongoing efforts to balance industry needs with economic and trade considerations. The outcome of these talks will be pivotal in shaping the future landscape of the steel sector and its role in the national and global economy.

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India, Sweden Discuss Green Steel Collaboration

Talks held to explore R&D and technology partnerships in green steel.

Published

11 hours ago

November 3, 2025

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Union Minister of State for Steel, Bhupathiraju Srinivas Varma, held a productive meeting with Ms Sara Modig, State Secretary to the Minister for Energy, Business and Industry, Sweden, at the Ministry of Steel in New Delhi. Ms Modig was accompanied by His Excellency Mr Jan Thesleff, Ambassador of Sweden to India, and other senior Swedish officials.

During the discussions, Minister Srinivas Varma highlighted the rapid growth of India’s steel sector, driven by the visionary leadership of Prime Minister Shri Narendra Modi. India aims to achieve 300 million tonnes of crude steel production capacity by 2030, in line with its commitment to infrastructure-led growth and industrial expansion.

He noted that domestic steel demand in India is rising by around 11 to 13 per cent annually, fuelled by major national infrastructure initiatives, even as global demand shows signs of slowing down.

The two sides discussed potential avenues for collaboration in Research and Development (R&D), particularly in Green Steel Production and other advanced technologies designed to reduce carbon emissions and promote sustainable manufacturing.

Minister Varma also reaffirmed India’s invitation to Sweden to participate in Bharat Steel 2026, an international conference-cum-exhibition dedicated to the steel industry. The event is scheduled to take place on 16–17 April 2026 at Bharat Mandapam, New Delhi, and will serve as a global platform for dialogue, partnerships, and technology exchange in sustainable steelmaking.

The meeting underscored India’s commitment to fostering global cooperation in decarbonising steel production, aligning with both countries’ shared goals of sustainability, innovation, and industrial growth.

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L&T wins Hindalco, Tata Steel projects in Odisha, Jamshedpur

L&T bags major aluminium and steel sector orders

Published

6 days ago

October 28, 2025

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Infrastructure major Larsen & Toubro (L&T) announced on Friday that it has secured significant orders from Hindalco Industries and Tata Steel, strengthening its presence in the metals and minerals sector.

The company’s minerals and metals business vertical won an order from Hindalco to set up a 180 KTPA aluminium smelter and gas treatment centre for a greenfield project in Odisha, as well as a separate order from Tata Steel to construct a coke oven battery at Jamshedpur.

These are among several recent orders bagged by the vertical in India, L&T said in a filing to the Bombay Stock Exchange (BSE).

The scope of the projects includes engineering, manufacturing, supply, construction, and plant installation.

T Kumaresan, Senior Vice President and Head of Minerals & Metals at L&T, said,

“These order wins across the aluminium and steel sectors are a testament to L&T’s engineering excellence, execution capability, and long-standing customer relationships. They further strengthen our role in shaping the nation’s industrial infrastructure, while deepening our engagement with the steel sector through world-class execution and technological excellence.”

The contracts underscore L&T’s strategic focus on expanding its footprint in India’s metals and industrial infrastructure segment, which continues to see strong growth driven by rising domestic demand and capacity expansion across core sectors.

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Shyam Metalics Unveils Rs 100 billion Capex Plan Under Vision 2031

Company targets Rs 400 billion topline by 2031 with 2.5x revenue growth

Published

2 weeks ago

October 23, 2025

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Shyam Metalics and Energy Limited (SMEL) has announced its Vision 2031, outlining a Rs 100 billion capital expenditure plan to expand capacity and achieve a topline of Rs 400 billion by 2031—a 2.5x revenue growth from current levels.

The company plans to enhance its integrated operations by focusing on high value-added and downstream products, including specialty steel, stainless steel, flat products, and aluminium. It also aims to strengthen its presence across key sectors such as defence, railways, engineering, and infrastructure.

SMEL will leverage brownfield expansions in West Bengal, Odisha, and Madhya Pradesh to optimise capital efficiency and minimise execution risk. The Vision 2031 roadmap underscores the company’s commitment to sustainable, value-driven, and capital-efficient growth across the metals sector.