Indian steel imports have been declining over the past three years as domestic demand was increasingly being met through local production, the minister of steel informed Parliament on Tuesday, July 27.
According to data placed before the Parliament, India’s steel consumption was pegged at 98.71 million mt in 2018-19 of which 7.9 million mt was imported. In 2019-20 steel consumption was recorded at 100.17 million mt of which imports accounted for 6.8 million mt while consumption in 2020-21 was 94.89 million mt with imports at 5 million mt.
During the first quarter (April-June) of fiscal 2021-22 Indian steel consumption has been 24.58 million mt, imports has been 4.7 million mt. minister of steel, Ram Chandra Prasad Singh, informed Parliament.