BHP Group and Rio Tinto are positioning India as the primary growth engine for the global steel industry. This strategic shift follows the cooling of China’s property-driven expansion, which previously dominated global demand.
BHP executives report that Indian customers are currently doubling their production capacity. The Indian government targets 500 million tons of steel production by 2047. India produced 165 million tons of steel last year.
BHP is also diversifying its portfolio to include copper and potash. These commodities align with long-term global trends in electrification and food security.