India was the world’s second largest steel producer, as of 2018. The country is slated to surpass USA to become the world’s second largest steel consumer in 2019. In FY19, India produced 131.57 million tonnes (MT) and 106.56 MT of gross finished steel and crude steel, respectively. Exports and imports of finished steel stood at 5.75 MT and 5.07 MT, respectively, in FY20P (up to November 2019). India’s finished steel consumption stood at 66.46 MT in FY20 (till November’19). India’s steel production is expected to increase from 106.56 MT in FY19 to 128.6 MT by 2021. 100 per cent Foreign Direct Investment (FDI) is allowed in the steel sector under the automatic route. Between April 2000 and September 2019, inflow of US$ 11.40 billion has been witnessed in the metallurgical industries as FDI.. The Government has taken various steps to boost the sector including the introduction of National Steel Policy 2017. National Mineral Development Corporation is expected to invest US$ 1 billion on infrastructure in next three years to boost iron production and increase the iron ore production 75 million tonnes per annum (MTPA) until 2021 indicating new opportunities in the sector