The government has decided to constitute a committee under the Director General of Foreign Trade (DGFT) to look into availability of steel at competitive prices for engineering goods exporters. The committee will submit its report to steel and commerce ministries within two months. The committee will also have members from the engineering sector. It will suggest measures which will be a win-win situation for both steel producers and engineering exporters.
Engineering goods exporters are demanding that they should get steel at global prices as domestic rates are higher. They also said steel should be made available at competitive rates so that outbound shipments can be pushed further. However, steel producers state that freight charges and cost of production is high in the country, which push up prices.
India’s engineering exports surged by 6.36 percent to $83.7 billion in 2018-19 as compared to $78.7 billion in 2017-18. These exports accounts for over 25 percent of the country's total merchandise exports, which stood at $331 billion last fiscal. Engineering exports include transport equipment, capital goods, other machinery/equipment and light engineering products like castings, forgings and fasteners.
Start Research-backed Investing ...Now. Subscribe to Sapphire
MoneyWorks4Me is a SEBI-registered Investment Adviser (IA) dedicated to helping investors build long-term wealth through transparent, research-driven, conflict-free guidance. Founded in 2008, we started our journey as a Research Analyst (RA), providing deep fundamental analysis, intrinsic value insights, and long-term investing frameworks for Indian equities. In 2017, we transitioned to a full-fledged SEBI-registered Investment Adviser, strengthening our commitment to acting as a fiduciary—always putting the investor’s interest first.
To become India’s most trusted, research-powered fiduciary advisory platform—where every investor, regardless of experience, can make calm, confident, and well-reasoned investment decisions.
MoneyWorks4Me ensures this through: