Tel :
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According to Bloomberg, Japan's JFE Steel believes that India's steel industry has the potential to surpass China's in the long term and aims to become India's largest foreign steel producer.
JFE Steel Executive Vice President Hiroyuki Ogawa stated that this assessment was partly the basis for the company's announcement last December of its largest overseas investment in India, amounting to nearly $2 billion. B50A600 Non oriented electrical steel, He noted that no other market has yet been identified that can replicate India's development path, but the company is also evaluating potential opportunities in the US market.
In late 2025, JFE Steel announced an investment of 157.5 billion Indian rupees to form a joint venture with Indian steel company JSW Steel. Under the agreement, the integrated steel plant assets of JSW Steel's Bhushan Power & Steel subsidiary in Odisha will be transferred to the joint venture. B50A600 Non oriented electrical steel, The joint venture plans to increase the plant's steel production capacity to 10 million tons by 2030, with the potential for further expansion to 15 million tons in the future.
Ogawa stated that commercial operation of the relevant projects will commence no later than 2029-2030.
Furthermore, he expressed optimism about India's ability to cope with the impact of low-priced global steel on its domestic market, believing that India is addressing this issue by promoting localized production policies.
Strategically, JFE Steel plans to achieve 200 billion yen (approximately US$1.3 billion) in overseas business profits by fiscal year 2034/2035, B50A600 Non oriented electrical steel, and anticipates that the Indian joint venture project will contribute at least a quarter of the target profits.
