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India's finished Steel exports fall 34% in 2018-19

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MUMBAI (Scrap Register): India's finished steel exports dropped 33.9% to 6.36 million tonne in 2018-19, amid the government's efforts to keep the country as the net exporter of the metal.

The country produced 110.92 million tonne of crude steel during the same year, a rise of 7.6% as against 103.13 million tonne in 2017-18, Minister of Steel Dharmendra Pradhan said while replying to a question in the Lok Sabha.

The minister also said the country exported 6.36 million tonne of finished steel during 2018-19, registering a fall of 33.9% as compared with 9.62 million tonne in the previous year.

Recently, Pradhan said that in the next two-three years, India will be in a position to continue to remain the net exporter of steel for years.

"We also produce saleable steel. We sometimes become importer, sometimes we are exporter. At present, we are net importer, we are importing about 2-3 million tonne... Within the next two-three years, India will remain a net exporter of steel for years. There will be no import," he had said while speaking at an industry event, PTI reported.

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