Steel imports rise by 26% to 12 MT in FY'16 - Feedback

Steel imports increased by 25.6 per cent to 11.71 million tonnes in the last fiscal compared to 9.32 million tonnes (MT) in 2014-15.

Minister of State for Steel Vishnu Deo Sai in a written reply to Lok Sabha said that in 2015-16 the finished steel import was at 11.71 million tonnes (provisional). The domestic production of finished steel in the last financial year declined to 90.39 million tonnes (provisional), over 92.16 million tonnes in 2014-15, Sai said. The minister further said that after the issue of quality control order, import of seconds and defective products by some unscrupulous importers were reported in respect of some categories of steel products. “However, the government does not maintain data on import, sale and storage of such sub-standard steel products standards-wise,” he said.

About news

We take care of publishing the latest investment news and highlights for Feedback

Leave a Reply

Your email address will not be published. Required fields are marked *