Indian Steel Sector Shows Steady Growth and New Safety Initiatives in First Half of FY 2026-27

The Indian steel industry has maintained steady progress in production and demand during the first half of the 2026-27 fiscal year. According to official data, crude steel production between April and September 2026 rose by 2.9 percent compared to the same period last year, reaching 85.1 million tonnes. During the same period, consumption of finished steel also saw a growth of 7.5 percent, totaling 84.9 million tonnes.

Steel prices in the market have also witnessed an upward trend. By September 2026, prices for materials such as TMT bars, hot-rolled coils, and cold-rolled coils increased by 21 to 28 percent compared to the previous year. In terms of trade dynamics, India remained a net importer of finished steel by volume, while exports also showed improvement compared to the previous year.

Prioritizing safety culture within the industry, the Ministry of Steel has decided to establish the Steel Industry Safety Council (SISC). This apex body will work to strengthen safety standards. Additionally, a Steel Industry Safety Directorate (SISD) has been formed to provide technical support to the council through safety audits and investigations into serious incidents.

NMDC has commissioned its 2 million tonnes per annum capacity pellet plant in Nagarnar, Chhattisgarh. This is part of an integrated project worth Rs 5,427 crore, which includes iron ore processing and a slurry pipeline. The company's iron ore production for the first half of the current fiscal year has also been approximately 23 percent higher than the previous year.

Collaboration between public sector companies has also increased. SAIL and Bharat Coking Coal Limited have signed a memorandum of understanding for the joint development of coal blocks in West Bengal. Furthermore, an AI-based safety monitoring system has been implemented at SAIL's Rourkela plant, which uses computer vision to identify violations of safety rules in the workplace.

Significant efforts are also being made towards green steel. By September 2026, green steel certificates have been issued to 101 steel producers. Additionally, a Centre of Excellence for green hydrogen research is being established at Jadavpur University, with support from SAIL and other institutions. This initiative will assist in meeting the goals of the National Green Hydrogen Mission.