April 28, 2025 - Indian Prime Minister Narendra Modi urged the domestic steel industry to find alternatives for the key steel making raw material coking coal and reduce its import dependency in a virtual address during India Steel 2025 conference on April 24.

Modi said raw material security was a major concern for the steel industry and added that the impact of coking coal imports on costs and India's economy demands exploring alternatives such as DRI route steelmaking and coal gasification, that can better utilize domestic coal resources.

India is majorly dependent on imports of coking coal as domestic resources lack the quality requirement and are mostly used in small quantities for blending purposes.

Modi also noted that reliance on imports of nickel and manganese was a challenge, emphasizing the need for the domestic industry to strengthen global partnerships, secure supply chains, and prioritize technological upgrades to expedite solutions.

The country's Prime Minister also underscored that the industry's goals in the long term should be focused on achieving zero imports and net exports, and explained that would be possible if the sector is ready for "new processes, new grades and new scales" as it aims to reach 500 million mt steel capacity growth by 2047. Modi said that the country is currently working with a target of 25 million steel exports but did not specify the timeline.

According to Modi the country's current per capita steel consumption stands at approximately 98 kg and is expected to increase to 160 kg by 2030, highlighting the growth in the country's infrastructure and economy.

He added that the government has mandated the use of only "Made in India" steel in government projects, which links the highest consumption of steel in construction and infrastructure to government initiatives.

The Prime Minister also underscored the numerous government initiatives that will continue to support the steel sector in the future such as PM Gati Shakti National Master Plan that integrates various utility services and logistics modes, a $1.3 trillion National Infrastructure Pipeline that is transforming cities into smart cities and increasing the pace of development in roads, railways, airports, ports, and pipelines. He also mentioned Pradhan Mantri Awas Yojana, under which millions of houses are being built, and the Jal Jeevan Mission, that is creating large-scale infrastructure projects in villages.

He also highlighted that the PLI scheme in the steel sector has supported the production of high-grade steel that is used in defense and strategic sectors, previously largely dependent on imports.

Modi also called for the expedited development of greenfield mining, stressing the importance of timely and effective utilization of allocated mines and national resources, warning that any delays could adversely affect both the country and the steel industry.