Growth in demand turns India into net importer of iron, steel in Apr-Sept

Imports are projected to be above 12 mt in this financial year as the momentum will continue despite the glut in the domestic market

India, home to ample iron ore resources and the third biggest crude steel producer, has paradoxically turned into a net importer of iron and steel.  

During April-September, the country imported iron and steel valued at $5.33 billion, exceeding its exports worth $4.22 billion. This has reversed the trend of the country being a net exporter of iron ore and steel products for the past two consecutive years. In the last financial year, exports of iron and steel were valued at $11.24 billion, overshooting the $10.43 billion in imports.  

Between 2009-10 and 2017-18, the country's exports of iron and steel logged