New Delhi, June 9 -- Indian steelmakers are set to enter a multi-year investment cycle as the country targets expanding its steel-making capacity to 300 million tonnes by 2030, according to a report by S&P Global.

The country's top four listed steel producers have announced a 40 per cent year-on-year increase in aggregate capital expenditure (capex) for fiscal 2027 (ending March 31), representing an investment of Rs 700 billion, which is up from Rs 500 billion in fiscal 2026.

"This is the start of a multi-year capex cycle as India aims to increase steel capacity to 300 million ton by 2030. The top four account for half of the country's steel output," the report said.

The investment push is being driven by strong domestic demand. India'...