India’s JSW Steel will require very little external capital to double its domestic production capacity, co-managing director Jayant Acharya told The Economic Times in remarks reported on 19 May 2026.
Acharya stated Indian steel demand has grown from 100 million tonnes six years ago to roughly 160 million tonnes by the end of 2025. To maintain its ~40 percent share of hot-rolled flat output, JSW must add at least 20 million tonnes of capacity. JSW expects to reach 37 million tonnes of annual capacity by mid-2027.
On the EU’s CBAM, Acharya said the mechanism will have little impact on JSW because roughly 90 percent of its sales remain inside India.
Why it matters for green steel: Without significant external capital, JSW’s capacity additions are likely to rely on existing coal-based BF-BOF technology — a directional headwind for the global green-steel transition that places India outside any meaningful pre-2035 net-zero alignment scenario.