India's steel exports during the April-December period of 2017 were recorded at 7.60 million mt, up 52.9 percent over corresponding period of 2016, according to Ministry of Steel data.
Total pig iron production during the April-December period of 2017 was recorded at 75.49 million mt, up 4.6 percent year on year, the data showed.
The Ministry of Steel has set a target of exporting 6-7 percent of total domestic production of finished steel, compared to 1.5 percent of the total production that is currently shipped overseas.
“There is no reason to be happy with exporting 1.5 percent of total production. Indian steel exports should increase to around seven percent of total production over the next few years,” India's steel minister Birendra Singh said in a statement.