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Overview

The Fifth Edition of the Indian Steel Association’s (ISA) flagship event, ISA Steel Conclave 2024, is poised to unite senior industry leaders, government officials, and consultants for an engaging dialogue on the theme "Evolving with Steel: Future Growth and Opportunities." This theme explores the transformative potential of the steel industry as it adapts to emerging technological advancements and sustainability demands. As a critical component in infrastructure, automotive, and construction sectors, steel's role is expanding with innovations like high-strength alloys and green steel production. These advancements not only enhance performance and durability but also reduce environmental impact. The industry's growth is fueled by increasing urbanization, renewable energy projects, and the global shift towards a circular economy. As steel continues to evolve, it offers vast opportunities for India’s economic development, technological innovation, and environmental stewardship.

The Conclave will delve into several pivotal topics, starting with steel decarbonization, examining its impact and the dynamics of global trade. Attendees will explore policy frameworks and key enablers which are crucial for the growth of the steel industry as India advances towards "Amrit Kaal," a period marked by significant national progress....Discussions will also cover the development of efficient and green infrastructure and initiatives aimed at enhancing steel logistics and many more engaging topics. These discussions aim to provide a comprehensive view of the steel industry's future, emphasizing sustainability and innovation.

With its knowledge-packed sessions, extensive networking and branding opportunities, the ISA Steel Conclave 2024 promises to be an outstanding platform for forging new synergies and exploring business collaborations. As ISA’s flagship event, the Conclave continues to solidify its reputation as a premier gathering for the entire steel ecosystem, fostering dialogue and driving forward the industry’s evolution.

Key Discussion Areas

Evolving with Steel: Future Growth and Opportunities

Steel Decarbonisation - Impact and Dynamics of Global Trade

State-wise Growth Opportunities

Breakthrough Technology Involved in Decarbonisation

Policy Frameworks and Key Enablers for Growth of the Steel Industry towards Amrit Kaal

Application of Artificial Intelligence in the Steel Value Chain

Demand for Low Emission Carbon Steel - End User Perspective

Decarbonisation of Medium Category Steel Makers and Other Available Options

 

INDUSTRY OVERVIEW

India is the world's 2nd largest producer of crude steel, producing 140 million tonnes (MT) in the calendar year 2023.

The country is also the largest producer of Direct Reduced Iron (DRI) or Sponge Iron, with a production of 49 MT.

India is the 2nd largest consumer of finished steel in the world, consuming 133 MT in 2023, second only to China, which consumed 895 MT.

The steel sector contributes around 2% of the country's GDP and employs approximately 2.5 million people in steel and allied sectors.

India is the 4th largest producer of iron ore and has the fifth-highest reserves of iron ore globally.

The National Steel Policy 2017 envisages the creation of 300 MT of steel capacity in the country by 2030-31, up from the existing capacity of 164 MT.

A Production-Linked Incentive (PLI) scheme has been approved for specialty steel, with a financial outlay of Rs. 6,322 crore (US$ 858.50 million) over a five-year period.

The Union Cabinet approved the PLI scheme for specialty steel, which is expected to attract investments worth approximately Rs. 400 billion (US$ 5.37 billion) and expand specialty steel capacity from 18 MT in FY21 to 42 MT in FY27.

It is estimated that at a capacity level of 300 MT, India will have to spend about Rs. 3,450 crores annually for the import of proprietary and other spares.

Foreign investments of nearly US$ 40 billion have been committed to the steel sector.

According to data released by the Department for Promotion of Industry and Internal Trade (DPIIT), between April 2000 and December 2023, Indian metallurgical industries attracted Foreign Direct Investment (FDI) inflows of US$ 17.46 billion.

Policies allowing 100% FDI (via the automatic route) in the steel industry have significantly boosted investments.

 

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