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India remained a net steel importer for FY 2024-25, with imports exceeding exports by 0.4 MT.
Key imports included high-grade and specialty steel, primarily from Asian countries.
Market competitiveness and domestic demand revival will be crucial to reverse the trade gap.
India continued to be a net importer of finished steel for the second consecutive financial year in FY 2024-25, as per the latest data from the Ministry of Steel. Total imports of finished steel stood at 6.7 million tonnes (MT), while exports lagged behind at 6.3 MT, reflecting a 0.4 MT trade deficit.
Analysts attribute the growing import trend to competitive pricing by international players, lower global steel prices, and sluggish domestic demand in certain regions. High-grade flat products and specialty steel formed the bulk of imports, mainly from South Korea, China, and Japan.
While India continues to expand its production capacity—with record outputs from players like JSW Steel and Tata Steel—domestic consumption patterns and infrastructure spending will be crucial to rebalance trade in the coming year.
This trend puts pressure on Indian steelmakers to enhance value-added offerings and cut costs to stay competitive in both domestic and export markets.
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