News dalla rete ITA

22 Aprile 2019

India

INDIA TURNS NET IMPORTER OF STEEL

As per press reports, India has emerged as the net importer of steel in the financial year 2019 (April 2018-March 2019). Despite being the second largest producer of steel in the world, India imported 7.84 million tonnes of finished steel in the year at a growth rate of 4.7 per cent. Simultaneously, India’s export of finished steel fell by 34 per cent to 6.36 million tonnes. India lost the Middle East and African markets to other competitors like China, Japan, Indonesia and South Korea. Furthermore, imports from these markets to India also rose. Analysts believe that, it is a setback to the Government of India which tries to promote export, and they anticipate that the government might try to impose duties on steel imports in the future. India produces 106.4 million tonnes per year on an average. (ICE NEW DELHI)


Fonte notizia: Financial Express