'Around 40 MT new steel capacity to be commissioned in India by FY26'

NEW DELHI: Around 40 million tonne (MT) of new steel-making capacity will be commissioned by 2025-26, an industry executive said on Thursday.

Vinod Nowal -- the Chairman of Assocham's National Council on Iron and Steel -- made the remarks at India Steel Summit in the national capital.

Domestic steel production capacity is expected to touch 300 MT and crude steel production is likely to reach 255 MT by FY31, he said.

Nowal, who is also the chairman of JSW Bhushan Power and Steel Ltd, said, ''Fresh steel capacities of accumulating to 35-40 MT per annum are lined up for commissioning by FY26''.

As per the industry body Indian Steel Association (ISA), India's total installed steel-making capacity was 154 MT as of March 2023.

Another 40 MT capacity addition by FY26 will scale it up to 194 MT.