India has imported 3.72 million tonnes (provisional) of finished steel during April-August 2024-25 as compared to 2.78 million tonnes in April-August 2023-24, i.e. up by 33.9%. Furthermore, production of finished steel increased 5.4% to 58.92 million tonnes in April-August 2024-25 as compared to 55.91 million tonnes during the corresponding period of last year.
Meanwhile, export of finished steel declined 39.6% to 1.91 million tonnes in April-August 2024-25 as against 3.17 million tonnes in April-August 2023-24. Finished steel consumption has registered a growth of 13% to 60.27 million tonnes in April-August 2024-25 as compared to 52.95 million tonnes during the corresponding period of last year.
India is the world’s second largest crude steel producer with production of 144.3 million tonnes crude steel in FY 2023-24. India was net importer of finished steel during 2023-24 with export of 7.49 million tonnes and import of 8.32 million tonnes. During the current financial year i.e. April-October 2024-25 (provisional), import and export of finished steel was 5.77 million tonnes and 2.75 million tonnes, respectively.
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