Faggan Singh Kulaste, Minister of State for Steel and Rural Development has announced that India exported 13.5 million tonnes (mt) of finished steel amounts to Rs 1 trillion, and has imported steel of about Rs 46000 crores.


  • This impressive performance of the country’s steel sector has contributed to the all-time record of USD 420 billion worth of merchandise exports from India.
  • India’s steel sector has in terms of domestic steel production and external trade registered a record performance.
  • The country can better its performance in this sector.
  • The steel sector of the country is growing at a Compound annual growth rate (CAGR) of around 5 to 6 percent on a year-on-year basis.
Steel consumption of India
The all-time high steel consumption of India stood at around 106 million tonnes and production stood at 120 million tonnes. This shows the sector’s resilience and also displays the grit of the country’s steel players.

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