India's steel industry is currently recognized as a key element in the country's economic growth. India's crude steel production is expected to reach around 165 million tons by 2025, reflecting a growth of over 10 percent compared to the previous year. This remarkable growth in the steel industry, particularly in the production of ferroalloy materials, has created new opportunities for the country.
Need for Domestic Raw Materials and Resource Supply
At the International Ferroalloys Conference (IFAC 2026), hosted by the Indian Ferroalloy Producers Association (IFAPA), the importance of securing domestic raw material resources was emphasized. Mr. Manish Sard, President of IFAPA, stated that securing domestic raw material resources is vital and should be a priority for ferroalloy producers in India to remain competitive globally and contribute to the vision of "Atmanirbhar Bharat" (Self-reliant India). He also stressed the need to accelerate the exploration and development of domestic manganese and chrome mines.
Read more: Increase in China's Port Capacity to 102.594 Million Tons on September 24, 2026
Growth in Demand and Production of Ferroalloys
Global demand for steel is also steadily increasing, and it is expected that this demand will continue at around 7 percent per year. Additionally, India has achieved its target of producing 300 million tons of steel in the fiscal year 2031, which will increase the need for raw materials such as manganese, chrome, and silicon. These changes are particularly evident in the production of silicon manganese, which is expected to rise from 1.9 million tons in the fiscal year 2020 to 3.5 million tons in the fiscal year 2026.
By 2025, India was recognized as the largest exporter of manganese alloys in the world. This achievement, due to the existence of a growing domestic market and a strong export base, allows Indian producers to achieve further growth and strengthen their position in global supply chains.
Challenges and Opportunities
Despite this growth, India faces challenges, particularly in securing raw materials. Imports of manganese ore increased by 27 percent last year, reaching 4.03 million tons in the first half of 2026. Meanwhile, chrome ore production also grew by 12 percent, reaching 3.53 million tons in the fiscal year 2025-26.
IFAPA emphasized the need to improve the competitiveness of input costs and called for zero percent import duties on manganese ore and raw materials required for specific alloys. The association also demanded a reduction in electricity costs for energy-intensive ferroalloy producers and the organization of tariffs and costs related to electricity.
Finally, IFAC 2026, with over 700 participants and 35 speakers, addressed topics such as manganese security, steel and alloy demand, global trade, and energy efficiency. This conference facilitated the gathering of senior leaders from various companies and provided a space for knowledge exchange.
Read more: DP World Emphasized the Importance of Resilience in Maritime Trade · V.Group Expands Graduate Recruitment Program
