IMPORTS OF STEEL
IMPORTS OF STEEL
Data on import of finished steel from Free Trade Agreement (FTA) countries, non-FTA countries and overall import during last three years and current year i.e., April-November 2024 (prov.) is given below and indicates that share of FTA countries in overall import was 60% in FY 2023-24 and 63% during the current year i.e., April-November 2024-25 (prov.) :-
Import of Finished Steel
Quantity (in million tonnes)
Country Group
2021-22
2022-23
2023-24
April-November
2024-25*
A. FTA
3.07
3.69
5.02
4.08
B. NON-FTA
1.60
2.33
3.30
2.43
TOTAL (A+B)
4.67
6.02
8.32
6.51
Share of FTA Countries
66%
61%
60%
63%
Source: Joint Plant Committee (JPC); *provisional;
Details of production and consumption of finished steel in the country during the last three years is shown below:-
Year
Finished Steel (in million tonnes)
Production
Consumption
2021-22
113.60
105.75
2022-23
123.20
119.89
2023-24
139.15
136.29
Source: JPC
The Government has taken the following steps to support the domestic steel Industry: –
This information was given by the Minister of State for Steel and Heavy Industries, Shri Bhupathiraju Srinivasa Varma in a written reply in the Lok Sabha today.
- Implementation of Domestically Manufactured Iron & Steel Products (DMI&SP) Policy for promoting ‘Made in India’ steel for Government procurement.