Indian steel exports overtake imports after a gap of 3 years

Aided by the new initiatives of the government, there has been a huge drop in imports

Exports of Indian steel have surpassed imports after a gap of three years due to government measures like the minimum import price (MIP).

According to the Joint Plant Committee figures, during April-February, exports increased 77.48 per cent to 6.62 million tonnes while imports fell by 65.20 per cent to 6.59 million tonnes. Though the difference between exports and imports is just about 2,00,000 tonnes, the industry expects the trend to continue till March-end, if not longer.

"There is a strong possibility that on a 12-month basis also, exports will be higher than imports, as larger players like SAIL, Tata Steel, JSW Steel