India's steel output to reach 100 million mts by 2020

India’s steel output to reach 100 million mts by 2020

The Indian Steel Alliance (ISA) targets country's domestic steel production to reach approximately 100 million mts by 2020. This target which comprises Tata Steel, Steel Authority of India Ltd, Jindal Vijayanagar Steel Ltd, Essar Steel and Ispat Industries Ltd. is part of ISA's comprehensive project on the current global steel trends and domestic steel market. The blueprint will be submitted to the government in the next few weeks. Under the scope of this project, the major drivers of this target of 100 million mts, opening up of new mines by the government, better railway links transportation for raw materials and products will be handled by ISA. This comprehensive project will also contain suggestions how the target can be achieved. Opening up certain areas for coal mining will also be offered in the blueprint as there is an acute shortage of raw material in the global market. India's per capita consumption of steel is about 26-27 kg. This figure is below the global average of 121 kg and China's of 128 kg consumption. India's current steel production is 34 million mts. If certain measures are taken then the country may soon be one of the leading players in the global market.