India's steel exports rise 11%, while imports drop 4% due to new government restrictions.
India's steel exports grew by 11% in October, reaching 4.4 million lakh tonnes. Steel imports fell by 4% to 9.8 lakh tonnes, the first decline this fiscal year, due to government restrictions on low-quality imports from countries like Vietnam. The domestic steel sector is expected to benefit from better prices and increased urbanization, with production projected to reach 152 million tonnes by 2024-25, marking an 8% annual growth.
November 09, 2024
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