India Becomes Net Exporter of Finished Steel in 2025-26 as Exports Jump 36%

India has transitioned into a net exporter of finished steel in the financial year ended March 31, 2026, reflecting a significant shift in its trade position backed by higher outbound shipments and reduced imports, as per Reuters report. 

Export Growth and Global Demand 

The country exported 6.6 million metric tonnes of finished steel in FY26, marking a strong increase of 35.9% compared to the previous year.  

This rise highlights improved global demand for Indian steel and stronger competitiveness in international markets. 

Major destinations for these exports included Italy, Vietnam, Belgium, the United Arab Emirates and Spain, indicating diversified demand across both European and Asian markets. 

Sharp Drop in Imports 

On the import side, India brought in 6.5 million tonnes of finished steel during FY26, a decline of 31.7% year-on-year.  

This drop suggests reduced reliance on overseas supply amid improved domestic availability. 

Key countries exporting steel to India included South Korea, China, Japan, Vietnam and Russia, although overall volumes from these markets declined during the year. 

Rising Production and Domestic Demand 

India’s crude steel production reached 169.2 million tonnes in FY26, registering an 11.2% increase over the previous year.  

This growth underscores continued capacity expansion and operational scaling by domestic producers. 

At the same time, finished steel consumption stood at 164.2 million tonnes, reflecting an 8% rise year-on-year.  

The increase in consumption points to sustained demand from sectors such as infrastructure, construction, and manufacturing. 

Read More: Indian Factory Output Growth Slows to 4.1% in March 2026! 

Conclusion 

The combination of rising exports, falling imports and steady growth in both production and consumption has enabled India to emerge as a net exporter of finished steel in FY26. This shift highlights strengthening domestic capabilities and improving positioning in global steel markets. 

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