India became a net steel importer in fiscal 2024, experiencing a trade deficit of 1.1 million tonnes.
India became a net importer of steel in fiscal 2024, marking a shift from its net exporter status since fiscal 2017, according to a CRISIL report. The steel trade deficit reached 1.1 million tonnes, with domestic demand driving the increase. Imports from major steel-producing countries, including China, South Korea, Japan, and Vietnam, rose by 38% year-on-year, with Vietnam's exports to India increasing by 130%.
June 20, 2024
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