New Delhi, Jan 14 (PTI) India's total export of finishedsteel in December last year jumped 28.9 per cent to 0.964million tonnes (MT), official data showed.
The country had shipped 0.748 MT finished steel in thesame month in 2016.
During April-December of 2017-18, the export of finishedsteel increased 52.9 per cent to 7.606 MT, from 4.975 MT inthe year-ago period, the Joint Plant Committee (JPC) has saidin its latest report.
On the other hand, imports were down 26 per cent at 0.561MT in December 2017 compared to 0.762 MT during the same montha year ago.
The import of finished steel during April-December lastyear surged 10.9 per cent to 6.096 MT, as against 5.495 MT inthe same period previous year.
"India was a net exporter of total finished steel inDecember 2017 as also during April-December 2017," the reportsaid.
India's consumption of finished steel in December 2017rose 6.2 per cent to 7.621 MT compared to 7.175 MT in theyear-ago period.
In April-August 2017, the consumption of finished steelwitnessed a growth of 5.2 per cent to 64.867 MT as against61.662 MT during the same period a year ago "under theinfluence of rising production for sale and imports," it said.
Not very happy with the export figures, Steel MinisterChaudhary Birender Singh has said India should export six toseven per cent of its total steel production from the existing1.5 per cent.
"There is no reason to be happy with 1.5 per cent ofexport. In the next few years, Indian steel exports shouldincrease to 6-7 per cent of total production," Singh said at asession on Thursday.
Empowered by the Ministry of Steel, the JPC is the onlyinstitution in the country that collects data on the Indianiron and steel industry. PTI ABIBAL.
This is unedited, unformatted feed from the Press Trust of India wire.