India’s finished steel exports recorded strong growth in the first nine months of the current financial year, rising by nearly one-third compared to the same period last year.
According to provisional government data reviewed by Reuters, this sharp increase highlights India’s improving position in the global steel trade.
India remains net steel exporter amid policy curbs
As per the data, India exported 4.8 million metric tons of finished steel between April and December, marking a 33.3% jump from a year ago. During the same period, the country imported 4.65 million metric tons of finished steel, making India a net exporter of finished steel in the first nine months of the financial year.
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India is the world’s second-largest producer of crude steel, and the latest numbers underline the scale of its domestic steel industry. Finished steel production during the April–December period stood at 117.6 million metric tons, while consumption was slightly higher at 119.3 million metric tons, according to the government data. Crude steel production during this period was recorded at 123.9 million metric tons.
Country-wise data on India’s steel exports is expected to be released later this month, which will provide a clearer picture of key export destinations.
In December, the Indian government imposed an import tariff on select steel products to restrict the inflow of cheaper imports, mainly from China. The tariff, known locally as a safeguard duty, has been fixed at 12% in the first year. It will then reduce to 11.5% in the second year and 11% in the third year. The move was aimed at protecting domestic steelmakers from low-priced overseas shipments.
In January, major Indian steel producers raised prices of hot-rolled coils and cold-rolled coils by up to ₹2,000 per metric ton, according to commodities consultancy BigMint. The consultancy said prices of hot-rolled coils were in the range of ₹50,250 to ₹51,250 per metric ton.
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India’s steel sector plays a key role in infrastructure, construction, and manufacturing. With rising production, steady consumption, and policy support, the industry continues to remain a crucial pillar of the country’s industrial growth.
