India's steel import decline by 36% to 7.4 MT in 2016-17

India's import of total finished steel fell 36 per cent to 7.4 million tonnes (MT) and exports jumped 102 per cent to 8.2 MT in 2016-17, according to official data. In terms of production too the country did well, according to Joint Plant Committee's annual report on the sector for 2016-17. Export of total finished steel rose 102.1 per cent in April-March 2016-17 to 8.244 MT as against 4 MT in

Export of total finished steel rose 102.1 per cent in April-March 2016-17 to 8.244 MT as against 4 MT in same period of last year and dependence on import eased to 7.4 MT as compared to 11.7 MT in the preceding fiscal, it said. "During April-March 2016-17, crude steel production was 97.385 MT, a growth of 8.5 per cent, over the same period of last year," the report said.