India is best known for its IT services companies, but now some of its industrial companies are making a making a mark on the world stage.
JSW Steel has become the world’s most valuable steel company by market capitalization. It has a market capitalization of $30.3 billion (2.5 lakh crore). JSW Steel is followed by US’s Nucor Corp, which has a market cap of $29.4 billion, and Luxembourg’s Arcelor Mittal, which has a market cap of $27.1 billion. Nippon Steel is at number 4 with a market cap of $24.4 billion, while India’s Tata Steel rounds up the top five with a market cap of $23.1 billion.
JSW’s move to the stop spot has happened because of a surge in its stock, which is up 18 percent in 2025. This is at a time when the broader markets have been struggling, and JSW’s stock is also one of the best performers in the Nifty this year. JSW Steel had an impressive 2024, which saw its stock rise 29 percent.
The JSW group had been founded by Om Prakash Jindal in 1982. It is now led by Sajjan Jindal, and is one of India’s leading business houses. It has interests in steel, energy, cement and infrastructure. The group has over 40,000 employees. JSW group also focuses on sports, and sponsors many Indian Olympians and athletes. It is also a co-owner of the IPL team Delhi Capitals.
India’s steel sector is one of the country’s most significant industries, playing a crucial role in its economic development. India is the world’s second-largest producer of crude steel, surpassing Japan in 2019. In 2023, India’s total steel production reached 144 million tonnes (MT).