The Ministry of Steel announced today that the country's steel sector had performed strongly in the last financial year, solidifying its position as the world's second-largest producer. It stated that the sector saw significant gains in production, consumption, and exports, driven by strong domestic demand and expanding infrastructure activity.
According to data released by the Ministry, the country's crude steel output grew by over 10.7 per cent year-on-year to approximately 168 million tonnes during 2025-26. Finished steel exports surged by 35.9 per cent, reaching over 6 million tonnes during the April 2025 to March 2026 period, while imports declined sharply by 31.7 per cent. The industry continued to see investments aimed at expanding production capacity.
The country's total steel capacity stands at approximately 220 million tonnes in the 2025-26 financial year and is projected to reach 300 million tonnes by 2030. The Ministry stated that this growth of the sector amid global uncertainties and price pressures demonstrates that the industry is well-positioned to remain a key pillar of the country's industrial and economic development.