According to Open4Business, India continues to strengthen its position as the second largest steel producer in the world and is gradually reducing the lag behind China, as evidenced by the data of the World Association of Steel Producers Worldsteel, published on September 24, 2026.
In January-August 2026, Indian metallurgical enterprises smelted 115.9 million tons of steel, which is 6% more than in the same period last year. China over the same period cut production by 3.1% to 651.9 million tons.
In the first eight months of 2025, India produced about 109.3 million tons of steel, while China produced about 672.8 million tons, according to Open4Business calculations based on Worldsteel data. Thus, the absolute gap between the top two producers narrowed from about 563 million tonnes to 536 million tonnes for the year, or nearly 5%.
The output ratio is also shifting in favor of India. If in January-August of last year China produced about 6.2 times more steel than India, then in 2026 this indicator decreased to about 5.6 times.
In August, this trend was maintained. India increased steel output by 4.6% year-on-year to 14.8 million tonnes, while production in China fell by 3.7% to 74.6 million tonnes. (World Steel Association)
India also more than doubles the US, which rank third among the world's largest producers. American enterprises smelted 57.5 million tons of steel in January-August, increasing production by 5.5%. Japan produced 54 million tons, Russia — 43.8 million tons, South Korea — 42.8 million tons.
Thus, the volume of Indian output in eight months is already about twice that of the United States and more than twice that of Japan.
India accounted for about 9.5% of all steel produced by the 70 countries providing Worldsteel statistics, while China's share was about 53%, USA — about 4.7%. These 70 countries accounted for approximately 98% of global steel production in 2025.
The difference is particularly noticeable against the backdrop of overall industry stagnation. In January-August, world steel production fell by 0.7% to 1.225 billion tons, while India continued to show steady growth. In August, global production decreased by 1.2% year-on-year to 144.2 million tons.
Vietnam remains another fast-growing Asian producer. In eight months, he increased the smelting of nand 29.1% to 20.6 million tons, and only in August the growth was 36.4%. In general, however, steel production in Asia and Oceania decreased by 0.9% from the beginning of the year to 906.4 million tons, primarily due to the dynamics of the Chinese market.
At the same time, China maintains a huge gap and remains the undisputed leader in world metallurgy. However, the divergent dynamics of the two largest producers indicate a gradual increase in India's weight in the global steel industry.
Primary source: World Steel Association — August 2026 crude steel production
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Economy
India is rapidly increasing steel production, closing the gap with China
Editorial team•
