Indian steelmakers to begin multi-year capex cycle as capacity target rises to 300 mt: S&P Global

Indian steelmakers enter multi-year capex cycle as capacity expansion accelerates

India's top four steelmakers raise capex 40% to Rs 70,000cr (FY27), targeting 300M-tonne capacity by 2030 amid tariffs and domestic demand surge. Rising earnings face overcapacity risk if demand slows, threatening global supply chain resilience and commodity pricing.