India became a net exporter of finished steel in the financial year ended 31 March 2026, supported by higher exports and a sharp decline in imports, according to a Reuters report citing provisional government data.
Finished steel exports rose by 35.9pct YoY to 6.6 mln tons, with key destinations including Italy, Vietnam, Belgium, the UAE and Spain.
Imports fell by 31.7pct YoY to 6.5 mln tons, with South Korea, China, Japan, Vietnam and Russia remaining the main suppliers to the Indian market.
India’s crude steel production increased by 11.2pct YoY to 169.2 mln tons during the fiscal year, while finished steel consumption grew by 8pct YoY to 164.2 mln tons.