India’s Steel & Iron Ore Boom by 2030: What You Should Know

 


India’s Steel & Iron Ore Boom by 2030: What You Should Know

India is rapidly transforming into the world’s next steel powerhouse. According to a recent analysis by Leanrs.com, the country is set to drive over 85% of global steel output growth through 2030 — overtaking China’s share of expansion.

A Surge in Domestic Steel Production

India’s crude steel output has grown from ~25 million tonnes in 2000 to ~150 million tonnes in 2024 — and is forecast to hit 230 million tonnes by 2030. That’s nearly a 9% CAGR driven by infrastructure projects, capital investments, and robust GDP growth.

This insight is backed by projections from Leanrs’ full article on India’s steel trajectory.

Iron Ore: Stable Supply, Rising Demand

One reason India is well-positioned is its domestic iron ore reserves. The country has over 5.5–6.4 billion tonnes of proven reserves, enabling it to meet growing steel input demand internally.
The report notes that iron ore exports are expected to fall sharply by 2030, while imports will stay modest, highlighting India’s shift toward self-reliance.

Cost and Logistics Snapshot

Leanrs' research reveals the average mining cost is $6 per tonne, with inland logistics adding up to $30 per tonne depending on region.
Export costs are expected to hover around $82 per tonne (CFR China) — still competitive globally.

Why This Matters

India’s upcoming dominance in the steel and iron ore markets isn’t just about volume — it’s about long-term self-sufficiency, government support, and improving export economics.

For more strategic content like this, explore: Leanrs Research


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