Indian Economy News

India exports 13.5 MT finished steel worth Rs. 1 trillion in FY22: Minister

  • IBEF
  • April 28, 2022

In FY22, India exported 13.5 million tonnes (MT) of completed steel worth Rs. 1 lakh crore (US$ 13.05 billion). India's steel consumption reached an all-time high of roughly 106 MT in FY22, while the country produced a record 120 MT of crude steel. On a YoY basis, the sector is increasing at a compound annual growth rate (CAGR) of roughly 5-6%.

The steel industry has the capacity to improve in all sectors. The engineering sector, which is intertwined with the manufacturing and infrastructure sectors, is critical to India's economy, and the steel sector is integral to it.

Disclaimer: This information has been collected through secondary research and IBEF is not responsible for any errors in the same.