India’s steel industry will have achieved investment to the tune of $3.56 billion by the end of the fiscal year 2028-29 and incremental capacity addition of 25 million mt per year, Nagendra Nath Sinha, secretary of the ministry of steel, said in a statement on Tuesday, July 30.
The secretary said that the government has signed 57 memoranda of understanding (MoUs) entailing a total investment of $ 1.76 billion, as of March 31, 2024, that will see the creation of 300,000 mt of new steelmaking capacity.
