India's steel exports must rise to 6-7% of production : Steel Minister
KOLKATA: Exports should account for 6-7 per cent of India’s total steel production in the next few years, up from the 1.5 per cent at present, Birender Singh, Union Steel Minister, said recently.
The steel industry, which was in trouble till recently primarily due to excess production in China, is now stabilising following measures such as minimum import price and anti-dumping duty imposed by the Government.
Steel imports have come down by nearly 40 per cent. “In the last one year, we have been able to reduce steel imports by nearly 40 per cent, and have also become a net export Country. In the next few years exports should be 6-7 per cent of the total production,” said Singh at a special session, organised by the Bharat Chamber of Commerce.