India, the second-largest steel manufacturer globally, achieved crude steel production of around 126 million tonnes (Mt) in the last financial year of April 2022 to March 2023 (FY23), against an installed capacity of 162 Mt. In its National Steel Policy, 2017, India has undertaken targets to take the crude steel production capacity to 300 Mt by 2030–2031 and production and demand to around 255 Mtpa, also by this deadline. The blast furnace-basic oxygen furnace (BF-BoF):electric arc furnace-induction furnace (EAF-IF) ratio in 2022 was at 44:56.