Top Steel Companies In India 2024

Metals are the classic driving force in the field of industrialization, with Steel holding the dominant position. For a long time, steel has contributed exceptionally to India’s economic growth. India ranks second after China in the production of crude steel.

The Indian Steel Industry goes way back to the early 1600s. Today, there is a huge demand for steel in different sectors like construction, railways, automobiles, consumer durables, and others.

The steel found in India became a major chance for entrepreneurs to get into the business. Government sectors were also interested to be in this industry, along with several other private businessmen. The first to be traced in the Indian steel industry is the setting up of the Tata Iron & Steel Company (TISCO) in Bihar in 1907. Later, many steel plants contributed to India's steel industry.

In this blog, we delve into the world of steel and explore the top steel companies in India. Join us as we uncover the technologies, innovations, and sustainable practices that have shaped these companies into industry leaders.

Top Steel Companies In India

Listed below are the top 23 steel manufacturing companies in India:

1. Tata Steel Limited
2. JSW Steel Limited
3. Steel Authority of India Limited
4. Essar Steel India Limited
5. Jindal Steel & Power Limited
6. Rashtriya Ispat Nigam Limited
7. National Mineral Development Corporation
8. VISA Steel
9. MESCO Steel
10. Electrotherm India Limited
11. APL Apollo Tubes
12. Ratnamani Metals & Tubes Ltd.
13. Prime Gold International Limited
14. Bhushan Power and Steel
15. ESL Steel Limited
16. Hindalco Industries
17. Vedanta Limited
18. TATA Steel BSL
19. MS Agarwal Foundries (P) Ltd.
20. Jindal Stainless
21. Godawari Power and Ispat
22. ArcelorMittal Nippon Steel India Ltd
23. Mideast Integrated Steel Ltd

Tata Steel Limited

TATA Steel was Asia’s first steel company, established by Jamsetji Nusserwanji Tata in 1907. Although the company is based in Jamshedpur, its headquarters is in Mumbai. TATA Steel Limited was formerly known as Tata Iron and Steel Company Limited (TISCO). The company provides the best steel in India. Today, the company is one of the most geographically diversified steel producers in the world, with operations and commercial presence all over the globe. With a workforce of more than 65,000 strong, the Tata Steel group operates on five continents.

With an annual crude steel capacity of more than 30 million tonnes per annum, the company ranks second as the largest producer in Europe. A unit of the TATA group, TATA Steel Limited reduced its competition in the market by acquiring Bhushan Steel Limited in 2018-19 and Usha Martin Ltd.

With an emphasis on innovation, technology, sustainability, and people, the company aspires to become the most esteemed and valuable steel company in the world while setting the standard for value generation and corporate responsibility in the global steel sector. Besides its raw material mines in India and Canada, Tata Steel has manufacturing and downstream facilities in Thailand, the United Kingdom, the Netherlands, and India. Jamshedpur and Gamharia in Jharkhand, Kalinganagar, and Meramandali in Odisha, and a total of 20.6 MnTPA in consolidated crude steel production capacity are all located within India making TATA Steel one of the top 10 steel companies in India.

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JSW Steel Limited

JSW Group is the parent organization of JSW Steel and is one of the largest steel manufacturing companies in India. JSW Steel Limited has large operations not only in India but also in international markets. It has the biggest steel plant in India.

JSW Steel Limited started in the early 80s with a single steel plant in Mumbai, and now the company has steel plants in states like Karnataka, Tamil Nadu, and Maharashtra.

Energy, infrastructure, paints, sports, and venture capital are all parts of JSW Group's broader economic interests as one of India's most famous conglomerates. With a capacity of 12 MnTPA, the JSW Steel production factory at Vijayanagar, Karnataka, is one of the biggest steel-producing facilities in India. Through its long-standing strategic partnership with Japan's JFE Steel, a world leader in the steel industry, the firm has maintained its position as a frontrunner in research and innovation. Through this collaboration, JSW Steel is able to make use of cutting-edge technology to manufacture and sell specific steel products that are of great value. The construction, infrastructural, automotive, electrical, and appliance sectors are just a few of the many that make heavy use of these items.

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Steel Authority of India Limited

Steel Authority of India Limited (SAIL) is a government-owned steel manufacturing company in India. With competition from the private sector, SAIL became one of the top government steel companies in India.

SAIL is into both iron and steel manufacturing, with several plants located in the eastern and central regions of the country. SAIL manufactures and sells a variety of steel products in India.

Essar Steel India Limited

Founded in 1998, Essar Steel India Limited has become one of the leading steel manufacturing companies in India. Essar Steel India Ltd is known for high-quality steel products with high-value graded steel.

Essar Steel’s products are supplied to a wide range of industry segments in India. Several industries, like the auto industry, power plants, hydrocarbon industry, and many others, depend on Essar Steel Ltd for steel.

Jindal Steel & Power Limited

Jindal Steel & Power Limited is not only into steel manufacturing but is also a renowned power-generating company. Jindal Steel & Power's business is not only limited to its operations in India but also includes most of its business internationally.

Jindal Steel and Power currently reported around 2.3 million tonnes of sales, which was the highest in a quarter. In FY22, the company made an annual record of 7.63 million tonnes of sales. Regardless of standing fifth on the list,, Jindal Steel can come out as the dominator of the steel industry within a few years.

Rashtriya Ispat Nigam Limited

Rashtriya Ispat Nigam Limited (RINL), also known as Vizag Steel, is a government-owned public sector undertaking (PSU) located in Visakhapatnam, Andhra Pradesh, India. Established in 1982, RINL is the corporate entity of Visakhapatnam Steel Plant (VSP), which is one of the country's largest integrated steel producers.

The company operates a modern and environmentally friendly steel plant that covers a vast area and has an annual production capacity of over 6.3 million metric tons of steel. RINL, under its various steel brands, is involved in the production of various steel products, including long products like TMT bars, wire rods, and structural products, as well as flat products like hot-rolled coils, cold-rolled coils, and galvanized steel sheets. This government-owned company has recorded a revenue total of Rs 28,215 crore in the year 2021-22.

National Mineral Development Corporation

National Mineral Development Corporation (NMDC) is a government-owned iron and steel manufacturing company in India. NMDC is one of the largest iron ore producers in India and is involved in the exploration, mining, and processing of various minerals. NMDC has made a significant contribution to the mineral sector over the past few decades and has been given the status of the public sector under Schedule A.

NMDC is also a great company for investment because of its spread business structure. The company is doing great in the market and has a subsidiary company named Sponge Iron India Limited.

VISA Steel

VISA Steel Limited is a well-known Indian company in the steel and ferrochrome manufacturing sector. Established in 2003, VISA Steel became a massive manufacturer of steel and is now one of the top steel companies in India.

VISA Steel has manufacturing plants located in three places and has a production capacity of more than a million metric tons per year. Visa Steel might stand eighth on the list of top 10 steel companies in India, but the company is one of the leading players in the special steel, ferrochrome, and metallurgical coke business in India.

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MESCO Steel

Founded in 1992, MESCO Steel made enormous growth within a few years and became one of the leading steel companies in India.

MESCO has two steel plants in India and generates more than a thousand tons of hot metal per day. MESCO could become the number one steel manufacturer in India soon because of their lowest-debt equity ratio among most steel companies in the country.

MESCO Steel has received several proposals from different banks to acquire more plants in India. However, the company's director of finance said that the company will begin to earn profit within the next few months.

Electrotherm India Limited

Electrotherm Limited is a pioneering company in the Indian steel industry, renowned for its innovative practices and contributions to the field of steel manufacturing. Established in 1983, the company has since embarked on a journey of growth and technological advancement, becoming a prominent name in the steel sector.

Among its exceptional offerings, ET TMT BARS has emerged as the most preferred and leading TMT brand in Gujarat, commanding a premium position in the market. The commitment to ensuring a better quality of life has led to the development of Electrotherm Ductile Iron pipes. These pipes serve as an excellent medium for transporting water while preserving its quality intact. Today, Electrotherm stands tall as one of India's foremost manufacturers of DI Pipes.

Breaking barriers and embracing eco-conscious practices, Electrotherm is the pioneering company in India to manufacture battery-operated two-wheelers.

APL Apollo Tubes

APL Apollo Tubes Limited is a leading Indian manufacturer of high-quality steel pipes and sections. Established in 1986, the company has grown to become one of the largest steel tube manufacturers in the country.

APL Apollo offers a wide range of steel tubes and pipes for various applications, including structural, construction, infrastructure, and engineering projects. The company's products are known for their superior quality, precision, and durability, making them a preferred choice for architects, engineers, and construction professionals.

Ratnamani Metals & Tubes Ltd.

Ratnamani Metals & Tubes Ltd. is a prominent Indian manufacturer of stainless steel, carbon steel, and high-nickel alloy pipes and tubes. Established in 1985, the company has grown to become a leading player in the steel industry.

Ratnamani Metals & Tubes offers a comprehensive range of products catering to various industries, including oil and gas, petrochemicals, pharmaceuticals, water treatment, and more. Their pipes and tubes are known for their exceptional quality, precision engineering, and adherence to international standards.

In the state of Gujarat, Ratnamani has its factories in Chhatral & Indrad (close to Ahmedabad) and Bhimasar (near Gandhidham, Kutch). These tubes and pipes are made in a variety of materials, including nickel alloy, stainless steel, titanium, carbon steel, welded pipes, and coated pipes. The production and testing facilities are state-of-the-art. To stay up with the latest innovations and advancements in the area, Ratnamani is constantly improving and altering its production and testing facilities, while also implementing proven and well-accepted technology.

Prime Gold International Limited

Prime Gold International Limited is a renowned steel industry leader, established in 1984 by Shri Pradeep Aggarwal. The company has earned an excellent reputation nationally and internationally by specializing in top-quality steel products such as TMT steel bars, cement, doors, structural steel, and wall paints. Notably, the company is among India's top 10 leaders in TMT bar production.

Prime Gold's commitment to innovation and the latest technology makes it an emerging and dynamic enterprise that envisions a brighter and more sustainable future. Shri Pradeep Aggarwal's visionary leadership has propelled the company to the forefront of the industry. The company's emphasis on providing construction solutions underscores its dedication to creating secure and healthy living environments.

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Bhushan Power and Steel

Bhushan Steel is a steel company established in New Delhi in 2003. It has become one of India's top 10 steel producers, renowned for its stainless steel quality and supply. The company's annual steel production exceeds 5 million metric tons, with an impressive annual turnover of almost $2 billion.

With cutting-edge facilities in Orissa, Kolkata, Derabassi, and Chandigarh, Bhushan Power & Steel Limited (BPSL) is an industry leader in the production of both flat and long products. Products made by these plants add value to the entire steel value chain, beginning with coal mining and ending with carbon and special alloy wire rods and rounds that meet international standards. They also manufacture pig iron, DRI, billets, HR coils, CR coils, precision tubes, black pipe, GI pipe, cable tapes, tor steel, and carbon. First of its kind in the private sector in Orissa, the company's 3.5 million TPA greenfield steel and power plant also includes an HR coil manufacturing facility. BPSL is a subsidiary of one of the top steel companies in India called JSW Steel.

The story of Bhushan Steel's success is spread across three state-of-the-art manufacturing plants placed strategically throughout India. This is a testament to the company's unwavering dedication to precision and innovation. Bhushan Steel is not just a significant contributor to India's steel output but is also recognized for its commitment to sustainability and pioneering technological advancements. Essentially, the company is a powerful force shaping the steel manufacturing landscape in India.

ESL Steel Limited

ESL Steel Limited (Formerly known as Electrosteel Steels Limited) is a well-known Indian steel manufacturing company that has earned a global reputation for its pioneering work in introducing Ductile Iron Pipes in the country. With over 50 years of experience, the company is committed to providing safe drinking water to people worldwide with its steel pipes. ESL steels play a vital role in ensuring that communities have access to secure drinking water, and its primary mission is to enhance the quality of life by providing reliable water infrastructure.

ESL Steels, recognized as a leading manufacturer of Ductile Iron Pipes, plays a pivotal role in shaping various facets of the steel manufacturing industry. Known for producing the best quality steel in India, the company's global acclaim underscores its unwavering commitment to excellence and innovation. ESL Steels stands out for its strong emphasis on sustainability, consistently working towards advancing technologies and practices that contribute to the overall well-being of communities. The company's dedication to providing superior steel further solidifies its position as an industry influencer, reflecting a steadfast commitment to quality and innovation.

The organization's legacy of over 50 years is marked by its dedication to delivering superior steel products and making safe drinking water more accessible, in line with its overarching vision.

Hindalco Industries

Hindalco Industries is a well-established brand within the Aditya Birla Group that specializes in producing aluminum and copper in Mumbai, Maharashtra, India. Currently ranked 895th among the Forbes Global 2000 companies, Hindalco Industries traces its roots back to the inception of 'Hindustan Aluminum Corporation Limited' by the Aditya Birla Group in 1958. The organization is renowned for delivering top-notch quality in copper and aluminum and stands as a prominent player in India's steel industry.

Along with its wholly-owned subsidiary, Novelis, a world-renowned manufacturer of flat-rolled products and the biggest recycler of aluminum, it is among the top Asian producers of primary aluminum (excluding China). As the leading downstream player in India's aluminum industry, Hindalco offers tailor-made solutions for flat-rolled goods and extruded aluminum. Beginning with the mining of bauxite and continuing through the refinement of alumina, coal mining, captive power plants, smelting of aluminum, downstream rolling, extrusions, and foils, Hindalco is active throughout the value chain. It provides essential services to industries including construction, building, electronics, transportation, electric vehicles, renewable energy, ceramics, medicines, food packaging, consumer durables, and kitchenware.

With the steel sector in India undergoing progressive phases and benefiting from economic resurgence, these companies, including the best steel companies in India, meet the growing demand across various sectors by consistently delivering high-quality steel and related products.

Vedanta Limited

Upon acquiring a 90% stake in ESL Steel Limited (ESL), Vedanta made a strategic entry into the steel market. The acquisition, facilitated through the Corporate Insolvency Resolution Process designed to address non-performing assets in the Indian banking sector, granted Vedanta Limited control over ESL in June 2018. With an ambitious vision, Vedanta aims to enhance its steel operations in Bokaro through brownfield development, aspiring to secure a prominent position among the nation's top steel manufacturers. The company is committed to expanding its horizons, overcoming challenges in both existing and future endeavors, and ensuring continuous growth, profitability, and success for all stakeholders.

As part of its 5 million tonnes brownfield expansion, Vedanta Ltd specifically plans to focus on producing long products and ductile iron, showcasing a strategic approach towards diversification and sustainable development in the steel industry.

The company has built a Greenfield plant with a yearly capacity of 1.5 million metric tonnes of steel, allowing it to be an integrated steel manufacturer. The company's product portfolio encompasses ductile iron pipes, wire rods, billets, TMT bars, and pig iron.

Making India Atmanirbhar is part of Vedanta Steel's mission to become the world's leading producer of high-grade, low-cost steel. Presently, the firm is broadening its horizons, and in the future, it intends to push barriers even further. Vedanta Steel has a management grid that focuses on Health, Safety, Environment, and Sustainability (HSES) to guarantee sustainable growth, even if the company plans to grow substantially. Vedanta Steel is a very popular steel brand in India.

TATA Steel BSL

As the only Cold Rolled Steel manufacturing company in India with a dedicated line for producing coils and sheets with a width of up to 1700 mm, Tata Steel BSL has quickly risen to the position of a dominant competitor. With a current capacity of 5.6 million tonnes per annum (MTPA), Tata Steel BSL Limited ranks as the fifth largest flat steel-producing firm in India. It is a major provider of high-carbon special steel and automotive grade in India, and it also boasts the biggest cold-rolled steel plant in the country. The name change from Bhushan Steel Limited ("Company") to Tata Steel BSL Limited took place on November 27, 2018. The change in name is a step towards bringing the Company's activities under the Tata Steel umbrella, becoming more synonymous with the Tata brand, and creating a distinct identity for the company inside the Tata Group.

MS Agarwal Foundries (P) Ltd.

MS Agarwal Foundries (P) Ltd. is one of India's most prestigious primary steel manufacturers. The company's state-of-the-art integrated steel rolling plant in Medak, Telangana has produced virgin steel under the AF Star and MS Life brands. The company's clients have benefited from the plant's stringent quality control measures, which have allowed it to remain competitive in the market. The states of Telangana and Andhra Pradesh are home to its integrated steel factory.  An SMS plant with continuous billet casting, a rolling mill, and a fully-equipped material testing laboratory are all part of one of the popular steel companies of India and it has its DRI operations in Mantralayam, Kurnool, Andhra Pradesh. The company is based in Medak, Telangana.

Jindal Stainless

In 1970, O.P. Jindal established Jindal Stainless. It is in the top ten of the world's greatest stainless steel companies and one of India's biggest stainless steel conglomerates. Roughly speaking, the Jindal Stainless Group can produce 1.9 MTPA of steel.

Godawari Power and Ispat

A HIRA Group of Industries member in Raipur is Godawari Power & Ispat Ltd. (GPIL), formerly known as Ispat Godawari Ltd (IGL). With the goal of establishing an integrated steel mill that included captive power generation, GPIL was founded in 1999 by B. L. Agrawal, Managing Director. The Bombay Stock Exchange and the National Stock Exchange both list GPIL. GPIL, a maker of mild steel wires, offers all sorts of services. Sponge iron, ferroalloys, steel wires, oxygen gas, fly ash brick, captive electricity, wire rods (via a subsidiary company), and pellets of iron ore are all part of the process. It is one of the top steel brands in India.

ArcelorMittal Nippon Steel India Ltd

The name of the company has changed from Essar Steel India to ArcelorMittal Nippon Steel India Ltd - AM/NS India. It has been in operation since December 2019, following the acquisition of Essar Steel. It produces flat steel in its entirety, from iron ore to finished goods. Serving a wide range of modern industries (agricultural, automotive, infrastructure, defense, energy, etc.) with more than 300 steel grades, AM/NS India helps bring about an Aatmanirbhar Bharat. Cold rolled coils and sheets, hot rolled coils and plates, galvanized coils and sheets, pre-painted galvanized coils and sheets, pipelines, and more are all part of our inventory. The company's mission is to build "Smarter Steels, Brighter Futures" by combining innovation with environmental responsibility. AM/NS India is one of the renowned steel brands in India.

Mideast Integrated Steel Ltd

Located in the eastern Indian state of Odisha, Mideast Integrated Steel Ltd. (MISL) was established in 1992 with assets there. Located in Odisha's primary iron ore belt, it obtained the Roida mining lease in 1996. Since its 2005 commissioning, MISL's pig iron factory at Jajpur has run without a hitch. When it comes to marketing and funding, MISL is in a strategic partnership with Stemcor, UK. In terms of technical cooperation, it was also the pioneering Indian firm to work with Sino Steel, China's former CMIEC. Mideast Integrated Steel Ltd. (MISL) is a member of the MESCO STEEL GROUP, one of the fastest-growing business groups in India. The MESCO STEEL GROUP has commercial interests in steel and airlines.

Conclusion

The aforementioned list comprises the top steel manufacturing companies in India, which continue to experience growing demand regardless of market fluctuations. According to the World Steel Association, the global demand for steel is projected to reach 1.88 billion metric tons by 2023; as per the latest report from the World Steel Association, India's total crude steel production for the year 2022 stood at an impressive 125.3 million tonnes (MT). The steel manufacturing industry continues to play a pivotal role in India's economic development, solidifying its position as a key contributor to the nation's progress.

FAQs

Which is the biggest steel company in India?

SAIL (Steel Authority of India Limited) is the largest steel manufacturing company in India.

Who is the world’s largest steel producer?

China’s Baowu Group became the world’s largest steel producer with 115 million metric tons of steel in 2020.

How many steel plants are there in India?

There are 650 mini steel plants in India.

Which are the top steel companies of India?

Some of the top steel companies in India are:

• Tata Steel Limited
• JSW Steel Limited
• Steel Authority of India Limited
• Essar Steel India Limited
• Jindal Steel & Power Limited
• Rashtriya Ispat Nigam Limited
• NMDC Steel Limited
• VISA Steel
• MESCO Steel
• Electrotherm India Limited
• Ratnamani Metals & Tubes Ltd.
• APL Apollo Tubes

What are the major challenges faced by the steel industry in India?

Major challenges faced by the steel industry in India include fluctuating raw material prices, global competition, infrastructure constraints, and environmental regulations. Additionally, the industry must address issues related to energy efficiency and technological advancements to remain competitive on the global stage.

What is the role of the government in developing the steel industry in India?

The government plays a crucial role in developing the steel industry in India by providing policy support, infrastructure development, access to resources, and promoting investments. It also focuses on ensuring a conducive business environment, implementing trade policies, and supporting research and development initiatives to enhance the industry's competitiveness.

What is the future of the steel industry in India?

The future of the steel industry in India looks promising, with continued growth and strong demand expected in various sectors, including infrastructure, construction, and manufacturing. The government's focus on boosting manufacturing and investing in key projects bodes well for the steel sector's expansion and contribution to India's economic development.

Which is the best steel company in India?

Tata Steel is considered the best steel company in India. It is the largest producer of steel in India and one of the lowest-cost producers of steel in the world.

Which are the top steel manufacturing companies in India?

The major steel manufacturing companies in India are:

• Tata Steel
• JSW Steel
• SAIL
• JSPL
• RINL