India has reported a 38 percent surge in steel imports to 8.319 million tonnes, becoming a net importer of the commodity during 2023-24 financial year, according to government data.

National

India has reported a 38 percent surge in steel imports to 8.319 million tonnes, becoming a net importer of the commodity during 2023-24 financial year, according to government data. India had imported 6.022 million tonnes (MnT) of finished steel during the preceding 2022-23 fiscal, the steel ministry's Joint Plant Committee (JPC) said in its latest report. The outbound shipment of steel rose by 11.50 percent to 7.48 MnT in the last fiscal from 6.71 MnT a year ago. The country's crude steel output also rose by 12.40 percent to 138.48 MnT from 123.19 MnT in 2022-23.


      JPC collects data on the Indian iron and steel industry.

      India was a net importer of total finished steel.

      Under the National Steel Policy, India aims to scale up its annual steel production capacity to 300 million tonnes by 2030, and per capita steel consumption to 160 kg.

 

     


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