India’s steel imports rose sharply in FY25, ended March 31, 2025, while exports saw a significant decline, according to data from the Ministry of Steel.
Total steel imports reached 9.5 mln tons, marking a 14.6pct YoY increase. In contrast, exports dropped by 35pct to 4.9 mln tons over the same period.
South Korea emerged as the top steel exporter to India, supplying 2.8 mln tons, up 5pct from the previous year. China followed with 2.5 mln tons, though this represented a 5pct decline YoY. Japan ranked third, exporting 2 mln tons to India, a notable 60pct increase.
Meanwhile, India’s steel exports to key international markets declined sharply. In Europe, shipments to Italy plunged 60pct YoY to 0.7 mln tons, while exports to Belgium and Spain dropped 35pct and 40pct to 0.54 mln and 0.42 mln tons, respectively. Exports to the UAE declined 6pct YoY to 0.5 mln tons, and shipments to Nepal slipped 4pct to 0.54 mln tons, indicating weakening demand across major traditional markets.