India’s Steel Sector Records Strong Growth in Q1 FY 2026-27
According to provisional data, crude steel production reached 40.3 million tonnes (MT) during the quarter, up from 36.9 MT in the corresponding period of the previous financial year, registering a growth of 9.2 per cent. Finished steel production increased to 39.7 MT from 37.1 MT, recording a growth of 7.1 per cent.
Consumption of finished steel continued its upward trajectory, rising to 40.9 MT during April–June FY 2026-27 compared to 37.5 MT in the same period last year, registering a growth of 9.1 per cent. The increase was driven by strong demand from infrastructure, construction, engineering, automotive and capital goods sectors.
India remained a net importer of finished steel during the quarter, with imports increasing to meet domestic demand, while exports reflected prevailing global market conditions.
The continued growth of the steel sector highlights the resilience of domestic demand and the positive impact of government initiatives aimed at expanding infrastructure, boosting manufacturing and promoting self-reliance. The sector is expected to maintain its growth momentum, supported by ongoing investments, capacity expansion and policy measures to enhance competitiveness and sustainability.
