According to a recent report from India’s Joint Plan Committee, part of the Ministry of Steel, India exported 1.351 million mt of steel in the first quarter of fiscal year 2019 (April-June 2018), a 33.7 percent decrease compared to 2.037 million mt of finished steel exports in April-June 2017.
In contrast to exports, India’s finished steel imports grew by 10.9 percent to 1.893 million mt in April-June quarter of 2018, compared to 1.707 million mt in the same period a year ago. The total output of finished steel for sale in the quarter under review stood at 26.72 million mt, up 4.4 percent from 25.605 million mt the country had produced in the three-month period last year.
According to the JPC, "The consumption of total finished steel saw a growth of 8.4 percent in April-June 2018 at 23.422 million mt over the same period of last year which had 21.598 million mt.”
Chaudhary Birender Singh, Union Steel Minister, has said that India should export at least 6 to 7 percent of its total steel production.