Share of Domestic Production in Consumption of Finished Steel Increasing
India has been net exporter of finished Steel since 2019-20
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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