In an Oct. 25 Mint interview, JSW Steel CEO Jayant Acharya urged faster mine development and coal-washery investment to support India’s draft target of 604 million tonnes of crude-steel capacity by 2047.
“Mines should not be allowed to stay non-functional once allocations are made,” Acharya said in the interview. Mint also reported that JSW is prioritizing brownfield expansion over its proposed four-million-tonne-a-year Salav green-steel project in Maharashtra, pending greater clarity on natural-gas supply and renewable power.
The Ministry of Steel’s draft National Steel Policy: Vision 2047 pairs the capacity target with projected finished-steel demand of 505 million tonnes. It lists FY 2025-26 installed capacity at 220 million tonnes a year, crude-steel production at 170 million tonnes and finished-steel consumption at 164 million tonnes. The draft says crude-steel production grew from about 89 million tonnes in FY 2014-15 to 170 million tonnes in FY 2025-26.
The draft projects iron-ore demand rising from 299 million tonnes in 2025 to 772 million tonnes in 2047, while coking-coal demand increases from 72 million to 236 million tonnes. Raw materials represent 65% to 70% of steelmaking costs, and imports meet about 92% of India’s coking-coal requirements.
The document identifies delays in starting allocated mines and lengthy statutory approvals as barriers. It puts operational coking-coal washing capacity at about 39 million tonnes per year, but says output is around six million tonnes from about 17 million tonnes of feed, with low yields and idle capacity limiting use.
JSW’s Oct. 23 results release says its board approved capital spending for captive iron-ore mines, coking-coal mines and washeries in India. It also approved a second phase at JSW Utkal in Odisha, adding five million tonnes a year with a ₹16,150 crore outlay and commissioning targeted for the first quarter of FY31. The board approved an eight-million-tonne-a-year pellet plant at JVML-Vijayanagar, which JSW said would reduce reliance on iron-ore lumps.
The Ministry of Steel reported finished-steel consumption of 85.0 million tonnes in April-September 2026, up 7.6% year over year. Crude-steel production reached 85.1 million tonnes, a 2.9% increase.
The Ministry of Steel is accepting feedback on the draft policy through Friday, Oct. 30.
