WEBIndian DRI production overtakes crude steel growth, says report. A recent report by Indian ratings agency CRISIL has revealed that Indian production of direct reduced iron (DRI), also known as sponge iron, achieved a compound annual growth rate (CAGR) of 8% to 51.5Mt in 2024 from 34.7Mt in 2019, outpacing the 5% growth in crude steel output.