After being a net importer for two years, India is now a net exporter of finished steel in FY26. The Ministry of Steel reports that exports were 6.6 million tonnes, marginally exceeding imports of 6.5 million tonnes.
While imports fell precipitously by 31.7%, steel exports saw a robust 35.9% year-over-year increase, bolstering India’s position in important international markets like West Asia, Europe, and Southeast Asia.
Crude steel production increased 10.7% to over 168.4 million tons, demonstrating the continued strength of domestic production. Consumption of finished steel increased by almost 8% to 164 million tonnes, indicating consistent demand.
However, the industry encountered difficulties in the second half of the fiscal year as a result of geopolitical tensions in West Asia, which affected production continuity by disrupting gas supplies and causing shortages of industrial fuels like LPG.
Although steel prices have recovered in early 2026 following a protracted fall, the volatility of raw material costs continues to put pressure on profitability.
Source – The Times of India
