India becomes net steel importer in 2018-19, first time in three years
- The imports for producing value-added steel for the auto sector is mainly by foreign steelmakers like POSCO
- Stainless steel producers in India contend that China is shipping product through Indonesia to circumvent an additional import tax that India levied in 2017
NEW DELHI : India was a net importer of steel during the 2018-19 fiscal year, the first time in three years, as the country lost market share among its traditional steel buyers and imports jumped on demand for higher-quality steel domestically.
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