India’s next 5-year plan – the 12th – is due to commence in April and will run to 2017.

The minister of Steel, Mr Beni Prasad Verma, has initiated the drafting of a new national steel policy in view of the changing economic environment, both domestically and internationally.

Under the previous plan, crude steel output is set to reach 100Mt by 2015. According to The Associated Chambers of Commerce and Industry of India consumption in 2015 is forecast to be 122Mt.

Output in 2011 is estimated at 72.2Mt for the calendar year, up 5.7% on 2010. This makes India the fourth largest producer in the world after USA, Japan and China, respectively.

In 2011, total world crude steel production reached 1527Mt.