The Steel Industry Booms: Production Up by 5.25 % in CY2022.

India is the second-largest crude steel producer in the world with 124.7 MT after China as of CY 2022. This is the major sector on which the other sectors depend such as construction, Infrastructure, Power & Energy, Automotive and manufacturing, etc. The steel demand in various sectors stood at 114.2 million tons as of FY 2022, with the highest demand coming from the construction industry at 73.1 million tons, followed by the automobile sector at 8.4 million tons, the manufacturing sector at 7.3 million tons, and other industries at 25.4 million tons. The production of crude steel was rise by 5.52% as compared to CY 2021. Moreover, the consumption of steel rose by 8.22% which is 98.39 MT in CY 2021. From 2018 to 2022, India's production of crude steel increased by 16%. During this period, states such as Odisha (1,85,87,000 MT), Maharashtra (75,12,000 MT), Gujarat (31,20,000 MT), West Bengal (20,01,000 MT), and Chhattisgarh (14,10,000 MT) saw significant production growth. 

For the development of our country steel will be a main source to serve the basic input in Industries such as construction, automobile, infrastructure, and manufacturing. As India is moving towards e-mobility the growth of 726% from 2020 till Dec-2022. In electric vehicles, steel is used about 60-70% more steel than in conventional internal combustion engine vehicles due to the additional components required for the battery and electric drive system. The estimated steel used in the construction of the highway was approx. 1194 tonnes as of December 2022. For the progress of the Indian economy, steel is the main component to fuel all the downstream Industries. However, India has to focus on green steel to become a net zero emitter by the end of 2070.