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Share of Domestic Production in Consumption of Finished Steel Increasing

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Ministry of Steel

Share of Domestic Production in Consumption of Finished Steel Increasing


India has been net exporter of finished Steel since 2019-20

Posted On:
26 JUL 2021 1:51PM by PIB Delhi

The following details of consumption and share of domestic production and import in the consumption of finished steel during the last three years and current year indicate that the share of domestic production in the consumption of finished steel has been increasing:-

Finished Steel (in million tonnes)

Year

Consumption

Production

Import

% Share of Import in consumption

% Share of Domestic Production in Consumption

2018-19

98.71

101.29

7.84

7.9

92.1

2019-20

100.17

102.62

6.77

6.8

93.2

2020-21

94.89

96.20

4.75

5.0

95.0

April-June, 2021*

24.85

26.23

1.16

4.7

95.3

Source: JPC; *provisional

 

The details of export and import of finished steel during last three years and current year as given below indicate that India has been a net exporter of finished steel since 2019-20.

 

Year

Finished Steel (in million tonnes)

Import

Export

2018-19

7.84

6.36

2019-20

6.77

8.36

2020-21

4.75

10.78

April- June, 2021*

1.16

3.56

Source: JPC; *provisional

 

The demand for steel in the country is predominantly met by domestic production and the percentage share of import in consumption has been gradually declining for last three years.

This information was given by the Union Minister for Steel Shri Ram Chandra Prasad Singh in a written reply in the Lok Sabha today.

           

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(Release ID: 1738999)
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