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India Steel Import: India’s dependence on China for steel is increasing. In the first eight months of the current financial year (till March 2025), steel imports from China to India have reached their record level. This has been revealed in government figures. Import of cheap steel from China has increased the problems of the country’s steel companies.
Import of finished steel from China into India
Import of finished steel from China to India has reached an eight-year high. At present, India is the second largest producer of crude steel in the world, despite this, India has been a net importer of steel in the last eight years. The data shows that India imported 6.5 million metric tonnes of finished steel, showing a year-on-year increase of 26.6 per cent.
China is continuously sending finished steel to India
According to the data, China sent 1.96 million metric tons of steel to India during April-November, which is 22.8 percent more than last year. In particular, stainless steel, hot-rolled coils, plates, electrical sheets, galvanized plain or corrugated sheets, pipes, bars and rods and other grades were exported from Beijing.
India is also importing steel from Japan
Data show that imports of finished steel from Japan also reached at least a six-year high during April-November. This more than doubled to 1.4 million metric tons. During this period, the contribution of total finished steel imports to India from China, Japan and South Korea was 79 percent.
During this period, hot-rolled coils were imported the most, while imports of non-flat category bars and rods remained at the top. To curb unbridled imports of steel, New Delhi initiated an investigation into whether a safeguard duty of up to 25 per cent should be imposed as a temporary tax on its imports. India became a net importer of steel in the financial year ending March 2024 and imports have continued to increase since then.
Compared to other countries, demand for steel is higher in India, thanks to strong economic growth and new infrastructure projects.
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