South Korea has overtaken China as the largest exporter of steel products to India in the first quarter of 2016-17 after trailing the latter for last two fiscals, Parliament was informed today.
Korea exported 5.11 lakh tonnes of steel to India, which is marginally higher than that exported by China at 5.10 LT, during the April-June quarter in 2016-17, showed data presented by Minister of State for Steel Vishnu Deo Sai in a written reply to Rajya Sabha. China was followed by Japan at 3 LT and Russia at 1.70 LT, it added. As per the data presented in the Upper House, together the four countries accounted for more than three-fourths of the steel (14.18 LT) exported to India during the quarter under review. India imported a total of 18.32 LT of the metal in the first quarter this fiscal. In 2015-16, China exported 41.25 LT of steel followed by Korea (30.07 LT), Japan (21.60 LT) and Russia (3.64 LT).