According to The Economic Times, India is set to invest $120 billion to achieve a steel production target of 300 million tons by 2030, as reported by the Ministry of Steel. This investment is crucial to prevent the country from becoming a net steel importer amid rising demand. Per capita steel consumption in India is nearing 100 kg, and steel imports surged by 41% year-on-year in the first half of FY2024/2025. The country's steel companies are currently facing high inventory levels, which have doubled to about 30 days. China remains the primary supplier of rolled steel to India, which has seen a significant increase in imports recently.