Covid-19 pandemic to keep Indian steel exports subdued in near term: ICRA

Since 2014-15, India's steel exports and imports have witnessed a roller coaster run. Both in FY15 and FY16, imports trumped exports significantly

The rapid spread of coronavirus and its crippling effect on economies across the globe is set to keep Indian steel exports subdued in the near term.

A report by rating agency ICRA Ltd forecasts that steel exports from the country are likely to be muted in the near term due to curbs on trade flow and depressed demand in buyer nations especially Italy and Belgium which accounted for 14 per cent of India’s outbound steel shipments during April-February period of FY20.

Since 2014-15, India’s steel exports and imports have witnessed a roller coaster run. Both in FY15 and FY16,