Get Annual plan at only Rs 289. The country had imported 7.48 MT of finished steel in 2017-18.
The country's finished steel imports rose 4.7 percent to 7.83 million tonne (MT) in 2018-19, Parliament was informed on July 8.
The country had imported 7.48 MT of finished steel in 2017-18.
In 2018-19, finished steel import stood at 7.83 MT, an increase of 4.7 percent in comparison to 2017-18, Steel Minister Dharmendra Pradhan said in a written reply to the Lok Sabha.
Stainless steel, flat products such as hot-rolled and cold-rolled coils, galvanised plain- or galvanised corrugated-coated and electrical sheets are the major categories that are being imported from other countries, he told the House.
"Among the grades that are imported, there are some that are not manufactured in adequate quantity in the country viz. CRGO, CR sheets with zero bends, API grade steel sheets/coils, special alloy steels of some grades used in automobile components etc.
"Some of the reasons for these grades not being manufactured in India vary from lack of availability of technology, not enough demand to justify a separate production line," Pradhan said.Subscribe to Moneycontrol Pro and gain access to curated markets data, trading recommendations, equity analysis, investment ideas, insights from market gurus and much more. Get Moneycontrol PRO for 1 year at price of 3 months at 289. Use code FREEDOM.
