India will become world's second largest producer of steel in 2 years. Union Minister for Steel, Beni Prasad Verma said in New Delhi on Tuesday that the country will have an installed annual production capacity of over 120 million tonnes by 2013, up from the present 80 million tonnes.Addressing the 5th India steel Summit in New Delhi, Prasad said that at present India has the fourth largest steel sector in the world. The capacity is expected to be over 150 million tonnes by 2020.