India to add 40 MT of new steel capacity by FY26

New Delhi: Around 40 million tonne (MT) of new steel-making capacity will be commissioned by 2025-26, an industry executive said on Thursday. Vinod Nowal - the Chairman of Assocham's National Council on Iron and Steel - made the remarks at India Steel Summit in the national capital.

Domestic steel production capacity is expected to touch 300 MT and crude steel production is likely to reach 255 MT by FY31, he said. Nowal, who is also the chairman of JSW Bhushan Power and Steel Ltd, said, "Fresh steel capacities of accumulating to 35-40 MT per annum are lined up for commissioning by FY26".