The Indian government plays a pivotal role in shaping the steel products market through a comprehensive framework of policies and initiatives aimed at boosting domestic production, enhancing competitiveness, and promoting sustainable practices. The National Steel Policy (NSP) 2017 sets the long-term direction, targeting a crude steel production capacity of 300 million tonnes by 2030, 400 million tonnes by 2035-36, and 500 million tonnes by 2047 . This policy encourages domestic production by promoting raw material availability, technology upgradation, and increased steel consumption across all sectors .

To achieve these ambitious targets, the government has introduced several key schemes. The Production-Linked Incentive (PLI) Scheme for Specialty Steel, with a budget of INR 6,322 crore, aims to add about 25 million tonnes of new specialty steel capacity and attract around INR 40,000 crore in fresh investment . By early 2025, investments worth INR 27,106 crore had already been committed, leading to significant capacity addition and job creation . The "Make in India" initiative further supports this by promoting domestic manufacturing and import substitution, while the Domestically Manufactured Iron and Steel Products (DMI&SP) policy provides preference to local producers in government procurement . Additionally, the PM Gati Shakti plan aims to lower logistics costs by up to 15%, sharpening the competitiveness of domestic producers . This robust policy architecture creates a favorable environment for long-term, sustainable growth in the steel products market .

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