New Delhi, Aug. 6 -- In a written statement to the Lok Sabha, Minister of Steel and Heavy Industries H.D. Kumaraswamy outlined key developments and ongoing initiatives aimed at increasing the sector's global competitiveness while reducing dependence on imports.

India, which holds the position of the world's second-largest steel producer, registered crude steel production of 152.18 million tonnes (MT) in FY 2024-25-marking a 5.5 percent rise over the previous year.

Finished steel consumption reached 152.13 MT, up by 11.6 percent, propelled by robust infrastructure growth and urbanisation.

During the same period, finished steel production totalled 146.69 MT, with exports accounting for 4.86 MT.

Although the steel sector remains deregula...