The top 10 steel companies in India constitute one of the largest industrial revenue earnings in the country, as the steel industry in India is undergoing new stages of development, aided by the economic resurgence and growing demand in the downstream sectors in India. The steel production in India is currently ranked as the second largest in the world. The top 10 largest steel manufacturers in India produced approximately 100 metric tons of finished steel including both alloy and non-alloy steel. These leading steel producers in India mostly produce iron and steel from iron ore, and supplies various of country鈥檚 major industries including automotive, machinery, and construction etc.
This industry fact sheet is to assist industry professionals, investors, and people in general that are interested in gaining insights into Indian鈥檚 steel industry including:
- How big is Indian steel industry?
- Who is the largest steel manufacturer in India?
- What are the factors driving the steel market growth in India?
- Who are the top 10 steel companies in India?
- What are the future trends of the Indian鈥檚 steel industry?
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Steel Industry in India is Poised to Grow Further in 2020
The Indian steel industry is one of the largest in the world in terms of production and exports. The demand for steel in the past few years has helped the Indian steel market to grow and steel companies in India to expand across the globe. With the increasing demand for high-quality steel in the electronics, construction, and logistics industry, the prospects of the steel industry in India is bright. India is among the top steel producing countries in the world. The steel companies in India like TATA steel, SAIL, and Jindal are among the list of top 10 steel companies in the world. TATA steel and SAIL has the largest steel plant in Asia. In 2019, India exported more than $15 million worth of steel ingots, which makes it one of the key players in the international steel market. Steel manufacturing companies in India are now the world鈥檚 second-largest crude steel producers after China. The demand for steel from the construction and automobile industry is increasing at great speed with the increase in the production of steel in India to meet the global consumption.
Suggested Read: Global Steel Industry Factsheet 2020: Top 10 Largest Steel Companies in the World
Key Figures and Facts about India鈥檚 Steel Industry
- India鈥檚 steel production capacity reached to 137.975 million tonnes (MT) in 2019. India surpassed Japan to become the world鈥檚 second largest steel producing country in 2019, with crude steel production of 111.2 MT
- India鈥檚 finished steel consumption totalled 97.54 MT in 2019, while the country鈥檚 crude steel and finished steel production increased to 106.56 MT and 131.57 MT in the same year respectively.
- In FY 2020, India鈥檚 crude steel production recorded 100.78 MT, and finished steel production stood 94.01 MT.
- India exported total 6.36 MT of steel in 2019, while India鈥檚 exports and imports of finished steel recorded at 7.78 MT and 6.39 MT respectively in FY 2020.
Source: IBEF
Suggested Read: Global Aluminium Industry Factsheet 2020: Top 10 Largest Aluminium Companies in the World
Top 10 Steel Companies in India 2020
1. Tata Steel 鈥� 2019 Revenue: $22 Billion
Tata Steel is one of the top 10 steel companies in India and also one of the oldest top 100 steel companies in India. The list of private steel plants in India is incomplete without the mention of Tata Steel as it is also a global name for the steel industry in India. Tata Steel is one of the leading steel manufacturers in India that was founded in 1907 by Dorabji Tata and is headquartered in Mumbai. Tata Steel, one of the largest steel companies in India has an annual revenue of around $22 billion with a massive steel production in India capacity of more than 30 million metric tons in a year.
2. JSW Steel 鈥� 2019 Revenue: $12 Billion
JSW Steel is one of the top 10 steel companies in India and is a subsidiary of the JSW Group. JSW Steel is also one of the top 100 steel companies in India. JSW Steel was founded in 1982 and is headquartered at Mumbai. This best steel brand in India has six lists of private steel plants in India and has steel production in India with a capacity of around 15 million metric tons annually. The list of stainless steel manufacturers in India is never completed with having JSW Steel on it. This leading steel companies in India has an annual turnover of over $12 billion with a prominent visibility in the steel industry in India.
3. SAIL 鈥� 2019 Revenue: $7.7 Billion
Steel Authority of India Limited (SAIL) is another top 10 steel companies in India and features high on the list of stainless steel manufacturers in India. SAIL is among the top 100 steel companies in India and was formed in 1954 in New Delhi, India. SAIL is one of the top steel manufacturers in India of the steel industry in India has an annual production capacity of around 5 million metric tons and has an annual turnover of approximately $7.5 billion to rank as the best steel brands in India with more than 5 integrated steel plants across India.
4. VISA Steel 鈥� 2019 Revenue: $3 Billion
VISA Steel is another top 100 steel companies in India from the steel industry in India. This top steel supplier in India was established in 2003 and is headquartered out of Kolkata. Currently, VISA Steel is in the leading list of top 10 steel companies in India has 3 steel manufacturing plants with a steel production in India capacity of over a million metric tons. This leading list of private steel plants in India company has an annual turnover of more than $3 billion and is ranked as one of the best steel manufacturers in India and is owned by the VISA group of companies. 2019 Revenue: $3 Billion
5. Rashtriya Ispat Nigam Limited (RINL) 鈥� 2019 Revenue: $2.9 Billion
Rashtriya Ispat Nigam Limited, also known as Vizag Steel is a Government of India undertaking company. This is also one of the top 10 steel companies in India with its headquarters at Visakhapatnam. This best steel brand in India was founded in 1982 and is one of the top 100 steel companies in India. Vizag Steel is one of the top steel manufacturers in India and has an annual turnover of around $2.9 billion. Vizag Steel was founded by the Government鈥檚 Steel Authority of India Limited (SAIL). It is ranked as one of the most profitable ventures of the Indian government and is one of the most highly rated steel suppliers in India today.
6. Essar Steel 鈥� 2019 Revenue: $2.5 Billion
Essar Steel is one of the top 10 steel companies in India with massive steel production in India plants. This leading steel suppliers in India ranks prominently on the list of private steel plants in India with an annual turnover of around $2.5 billion with a steel production in India capacity of more than 10 million metric tons annually. This top 100 steel companies in India; Essar Group was founded in 1998 and is located at Mumbai. This best steel companies in India has 6 steel production in India plants and various operational units across the globe.
7. Bhushan Steel 鈥� 2019 Revenue: $1.7 Billion
Bhushan Steel is one of the renowned top 10 steel companies in India and one of the best steel manufacturers in India. This leading steel suppliers in India features predominantly on the list of stainless steel manufacturers in India with its headquarters at New Delhi and established in 2003. This leading steel brands in India of the steel industry in India has an annual steel production in India with a capacity of more than 5 million metric tons and a yearly turnover of under $2 billion approximately. Bhushan Steel in India has three manufacturing plants for steel production in India.
8. Jindal Steel & Power 鈥� 2019 Revenue: $3 Billion
Jindal Steel & Power is one of the leading top 100 steel companies in India with an annual production capacity of more than three million metric tons and a yearly turnover of around $3 billion. Jindal Steel and Power is on the list of top 10 steel companies in India and is regularly mentioned in the list of private steel plants in India. Jindal Steel has various steel production in India plants across the country. This is one of the top steel suppliers in India was founded by O P Jindal in 1952 and has its headquarters located at New Delhi. Currently, Jindal Steel in India is headed by Naveen Jindal.
9. Facor Steel 鈥� 2019 Revenue: $1.5 Billion
Facor Steel is one of the top 10 steel companies in India and a renowned steel brand in India. This is one of the top leading steel companies in India was founded in 1956 by Durgaprasadji Saraf and is headquartered in Nagpur, India. This top steel brands in India has an annual turnover of more than $1.5 billion and a steel production in India capacity of around 2 million metric tons. This leading steel suppliers in India and top 100 steel companies in India is also an established steel company in India exporting to many countries around the world. Facor steel is one of the fastest growing steel producing companies in Asia.
10. MESCO Steel 鈥� 2019 Revenue: $2 Billion
MESCO Steel is also one of the top 10 steel companies in India with a global presence from the steel industry in India. This is list as one of the top few leading steel suppliers in India was founded in 1992 with collaborated on technology from Sino Steel, the Chinese steel conglomerate. MESCO Steel is in the list of top 100 steel companies in India that produces over 1000 tons of hot metal every day and operates from two steel production in India plants. This major steel manufacturers in India is renowned as having the lowest debt-equity ratio among several steel companies in India. MESCO steel is growing to become one of the leading steel producers in India and the Asia-Pacific region.
Other top steel companies in India are Mahindra Ugine Steel, Welspun Corp, Ahmedabad Steelcraft Ltd, Akashna Global Steel Ltd, Anil Special Steel Ltd, Ashirwad Steels & Industries, Bajaj Steel industries, Bellary Steels & Alloys Ltd, and Bengal Steel Industries Ltd.
Top 13 Largest Steel Plants in India 2020
| Steel Plants | Location | Owned By |
| Tata Iron and Steel Company Ltd (TISCO) | Jamshedpur | TATA |
| Bhilai Steel Plant | Chhattisgarh | Steel Authority of India Limited (SAIL) |
| Bokaro Steel Plant | Bokaro | Steel Authority of India Limited (SAIL) |
| Durgapur Steel Plant | Durgapur | Steel Authority of India Limited (SAIL) |
| Rourkela Steel Plant | Rourkela | Steel Authority of India Limited (SAIL) |
| Salem Steel Plant | Salem | Steel Authority of India Limited (SAIL) |
| Visvesvaraya Iron and Steel Plant | Bhadravathi | Steel Authority of India Limited (SAIL) |
| IISCO | Asansol | Steel Authority of India Limited (SAIL) |
| Bhushan Steel Plant | Dhenkanal | Bhushan Steel |
| Essar Steel Plant | Hazira | Essar Steel Limited |
| Jindal Steel and Power | Raigarh | Jindal Group |
| Vijayanagar Steel Plant | Hospet | JSW Limited |
| Visakhapatnam Steel Plant | Visakhapatnam | Rashtriya Ispat Nigam Limited |
Future Prospects of the Top 10 Steel Companies in India
The steel industry in India is forecast to have a robust growth in the next few years with an aim to remain as the 2nd largest steel producing country in the world. The future direction of the top 10 steel companies in India looks promising with favourable Government initiatives and growing demand from various steel dependent industries like automotive, electronics, and construction sectors. Furthermore, steel industry in India is geared to add immense value to the country鈥檚 GDP and as well as bring more foreign currency with the help of the best steel manufacturers in India and the top steel exporters in India. The steel industry in India is forecasted to thrive on account of growing demand from all over for the steel production in India, attributed to well-developed infrastructure and top-quality technological advancements conducted by the top 10 steel companies in India.
Read more:
Top 10 Largest Steel Companies in the World 2020
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