According to reports, India exported 1.35 million tons of steel in the first quarter of this fiscal year, down 33.7% year-on-year.

In a recent report, the Joint Factory Council of India (JPC) mentioned that India exported 2.04 million tons of steel in the same period last year.

The Indian Joint Factory Committee is part of the Steel Department and is the only organization in India that collects and maintains data on the domestic steel industry.

Joint Steel Minister Chowdhury Brand Singh said earlier that India's steel exports should account for at least 6%-7% of total production.

Compared with exports, imports reached 1.89 million tons in April-June, an increase of 10.9% from 1.71 million tons last year.

In the same period, India produced a total of 26.72 million tons of steel, an increase of 4.4% compared with 25.61 million tons last year, while steel consumption reached 23.42 million tons, up 8.4% year-on-year.

The Indian Joint Factory Committee believes that “the increase in production and imports has contributed to the increase in the overall level of domestic steel consumption.”

The Indian cabinet passed the 2017 National Steel Policy in May last year, aiming to invest 10 trillion rupees and expand its steel making capacity to 300 million tons in 2030-2031.

In addition, the policy also plans to double the per capita steel consumption in India to 158 kg in 2030-2031.