Steel production in India grew by 3.1% to 103 million tonnes and consumption increased by 7.9% to 90.7 million tonnes in FY 2017-18. India is currently the third-largest producer of steel after China and Japan,and is poised to become the second-largest producer soon. An increase in domestic demand from sectors like infrastructure, real estate and automobiles is anticipated. The government has mooted a plan to boost domestic steel capacity to 300mt per annum by 2030. However, this growth will have to be supported by private sector companies and will also require import of foreign technology and foreign direct investment (FDI). Up till now, the Indian steel sector has been comparatively inward-looking; however, it is likely to be increasingly impacted by developments in global steel, raw material and energy spaces.