Panch Tattva Wisdom

India’s steel strategy must avoid the trap of overcapacity.
Global crude steel production today is about ~1.88 billion tonnes, with consumption around ~1.78 billion tonnes—translating to roughly 210–220 kg per capita worldwide. �
Steelonthenet +2
Developed economies typically stabilise at 200–300 kg per capita, while higher levels (400 kg+) reflect export-heavy industrial structures—not universal demand. �
worldsteel.org
India, at ~100–120 kg per capita, has room to grow—but its high population density enables more efficient infrastructure use, implying lower steel intensity for similar development outcomes. �
Press Information Bureau
Building capacity far ahead of realistic demand risks repeating the global cycle of overcapacity, price collapse, and stressed assets.
**A calibrated approach—meeting most domestic demand while allowing marginal imports—will ensure strength without turning steel into a capital sink.**