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India's Steel Exports Fell 33.7% Year-on-year In April-June
- Jul 31, 2018 -

India has reportedly exported 1.35 million tonnes of steel in the first quarter of this fiscal year, down 33.7% per cent year-on-year. India's Joint Factory Committee (JPC) said in a recent report that India's exports of steel were 2.04 million tonnes in the same period last year. 

The Joint Plant Committee of India, under the Ministry of Steel, is the only institution in India to collect and maintain data on the domestic steel industry. 

Choduri Brandsing, the United Steel minister, earlier said India's steel exports should account for at least 6% to 7% of total production. 

Compared with exports, imports reached 1.89 million tonnes in April-June, up from 1.71 million tonnes last year to 10.9% per cent. 

In the same period, India produced a total of 26.72 million tons of steel, 25.61 million tons of last year's growth of 4.4%, and steel consumption reached 23.42 million tons, up 8.4% per cent year-on-year. "The increase in output and imports has contributed to a rise in overall steel consumption in the country," the Joint Factory committee said. "The Indian cabinet passed the 2017 National Steel Policy last May, which aims to invest 10 trillion rupees and expand steelmaking capacity to 300 million tonnes in 2030-2031," the report said. In addition, the policy also plans to expand India's per capita steel consumption by one to 158 kilograms in 2030-2031.