India's steel giant is fighting imports by investing in its own facilities
Indian steel company JSW Steel will allocate 20,000 crores of rupees ($2.4 billion) for capital expenditures in 2025/2026. A significant part of them will be directed to the third stage of the expansion of the plant in Dolva (Maharashtra), The Economic Times reports.
The investments are aimed at increasing the production capacity of the enterprise from the current 10 million tons to 15 million tons by September 2027. The company aims to achieve an annual steel production of 50 million tons by fiscal year 2030/2031. Of these, up to 42 million tons will be accounted for by new projects, the completion of which is scheduled for autumn 2027.
The remaining capital expenditures will be allocated to ongoing projects at Bhushan Power, Jindal Vijayanagar Metallics (JVML) and processing operations.
Jayant Acharya, Co-managing Director of JSW Steel, also noted that although the protective duty imposed by the Indian government has helped limit imports of certain steel products, exports have not gained momentum. In his opinion, one of the reasons is the instability of the global situation.
Acharya believes that India needs to be vigilant about cheap steel imports that could flood the country, he said on BloombergTV. According to him, the US tariffs increase concerns about oversupply from China. Due to the rapid growth of its own economy, India remains vulnerable to redirection of trade flows.