New Delhi, Aug. 7 -- India's two largest steelmakers are pursuing different routes to their next phase of growth, reflecting contrasting priorities in an increasingly competitive market. While JSW Steel is expanding its steelmaking capacity mostly through new projects and joint ventures, Tata Steel is betting on higher-margin, value-added products.

JSW Steel, India's largest steelmaker, led by CEO and joint managing director Jayant Acharya, aims to double its steelmaking capacity to 80 million tonnes per annum (mtpa) by 2031 through brownfield and greenfield expansions and joint ventures. This would make it one of the world's largest steel producers outside of China.

Tata Steel, the country's second-largest steelmaker, meanwhile, believ...