Steel consumption in India increased by 84% in 5 years, reached 4.8 million tonnes in 2024-25

Steel consumption at the domestic level has increased by 84 percent in the last five years. The Indian Stainless Steel Development Association (ISSDA) gave this information. The association stated that its consumption has been at 4.8 million tonnes in the fiscal year 2024-25. ISSDA President Rajmani Krishnamurthy stated at the Global Stainless Steel Expo (GSSE) 2025 that this increase has been caused by high demand in sectors like infrastructure, railways, airports, and metros.

According to the data, steel consumption in India was 26.1 lakh tonnes in FY 2020-21. It increased to 34.6 lakh tonnes in FY 2021-22. It registered a growth of 33 per cent year-on-year. Its demand increased to 39.4 lakh tonnes in 2022-23. After this, it touched the figure of 44.9 lakh tonnes in 2023-24. Meanwhile, there was an increase of 14 per cent year-on-year.

Krishnamurthy said that in the last five financial years, per capita steel consumption has increased from 2.5 kg in FY 21 to 3.4 kg in FY 25. He further said that the steel demand will increase to 68 lakh tonnes in 2030. Per capita consumption is expected to be in the range of 4.5-5.5 kg by FY 30. He said that some new sectors have now been added to the demand for steel. These include areas such as green hydrogen, biofuels and renewable energy, urban infrastructure and smart cities, and tunnels.