India’s steel imports declining since FY’19: Steel Minister

India’s steel imports have been on the decline in recent years, the government told Lok Sabha on 26 Jun’21.

• The share of imports in domestic consumption fell to 5% in FY’21 from 6.8% in FY’20 and 7.9% in FY’19. The share fell further to 4.7% in the first three months of the current fiscal.
• Government data showed that domestic consumption stood at 98.71 mn t in FY’19, 100.17 mn t in FY’20, 94.89 mn t in FY’21 and 24.58 mn t in the first three months of the current fiscal.

“The demand for steel in the country is being predominantly met by domestic production and the percentage share of import in consumption has been gradually declining for the last three years,” Union Steel Minister Ram Chandra Prasad Singh said in a written reply in the Lok Sabha.