India will soon place its new National Steel Policy in the public domain, steel secretary Sandeep Poundrik said on Tuesday at the Manufacturing Confluence 2026 event organised by the CII.

The policy sets a roadmap through 2047 for the Indian steel industry to reach 600 million tonnes of capacity, with a higher share of value-added and special steel. The draft will be open for stakeholder comments for about a week, Poundrik said.

The government is also formulating an incentive scheme called Viksit Bharat Ispat with an outlay of Rs 5,000 crore for MSME steel units, linked to production and the reduction of carbon emissions through better technology, raw material and renewable energy.

The new policy includes measures to discourage cheap, substandard imports, including safeguard and anti-dumping duties, and aims to make small steel players competitive on technology and price. For bigger producers, the Carbon Credit Trading Scheme will be notified very soon.

The 2017 National Steel Policy had aimed for 300 million tonnes of capacity by 2030, but officials said it needed a relook given new priorities such as artificial intelligence, machine learning and decarbonisation. Poundrik said India is the only country growing in steel capacity and consumption at such speed.