India's Ministry of Steel has issued its year-end review presenting the country's achievements in the steel industry in 2011 and giving its forecasts for the future of the sector. Accordingly, the ministry estimates
India will achieve a
crude steel production capacity of 112 million metric tons by the fiscal year year 2011-12.
In 2011, 222 MoUs have been signed with various states in
India for an aggregate planned steel
production capacity of around 276 million metric tons by 2019-20. Major investment plans have been made in the states of Orissa, Jharkhand, Karnataka, Chhattisgarh and West Bengal.
The ministry also stated that
India became the fourth largest producer of
crude steel in the world in 2010, as against the eighth largest in 2003, and is expected to become the second largest producer of
crude steel in the world by 2015.