India exported 10.7 million tonnes of finished steel during 2020-21 compared to 4.7 million tonnes of the commodity imported in the country during the same period, according to data provided by the Ministry of Steel.
During the current financial year (2021-22), a total of 3.5 million tonnes of finished steel has already been exported during the April-June period. In the same period of the current fiscal, 1.16 million tonnes of steel was imported in the country.
As steel is a de-regulated sector, commercial decisions like exports are taken by steel companies.
Out of the 10.7 million tonnes of steel exported by India during 2020-21, it managed to export more than one million tonnes of finished steel only during five months of the entire financial year.
According to the official data, India exported 1.2 million tonnes of steel during May 2020, 1.5 million tonnes during June 2020, 1.3 million tonnes in July 2020, 1.04 million tonnes in August 2020 and 1.2 million tonnes during March 2021.
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