Now Reading: Indian steel exports surge to Vietnam, Taiwan as European markets fall
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Indian steel exports surge to Vietnam, Taiwan as European markets fall
Indian steel exports surge to Vietnam, Taiwan as European markets fall
Indian steel exports to Vietnam surged to 772,000 tonnes in FY26 from 11,000 tonnes in FY25, and to Taiwan to 376,000 tonnes from 31,000 tonnes, according to businesstoday.in, citing PIB data. Italy…
The Story in Brief
Indian steel exports to Vietnam surged to 772,000 tonnes in FY26 from 11,000 tonnes in FY25, and to Taiwan to 376,000 tonnes from 31,000 tonnes, according to businesstoday.in, citing PIB data. Italy remained the largest destination at 1.07 million tonnes, but shipments were down 36% from FY24. Exports to Spain and the UK also declined.
A PIB release attributed the recovery to market diversification and improved competitiveness. Finished steel imports fell 31.7%, helping India regain net exporter status. Crude steel production grew 10.7% to 168.4 million tonnes, and finished steel consumption reached 164 million tonnes, driven by infrastructure, construction, railways and manufacturing. JSW Group led producer share at 15.5%, followed by Tata Steel and SAIL. Odisha, Chhattisgarh and Jharkhand accounted for nearly half of state-wise production.
The Indian Opinion
The Indian steel narrative swings between booming exports and a European retreat. The data shows genuine diversification, Vietnam and Taiwan absorbing volumes that once went to Italy, but the shift is reactive, not strategic. Finished steel imports fell 31.7%, helping India regain net exporter status, yet the industry remains dependent on a handful of states and producers. The real test will be whether the new Asian markets sustain demand without triggering anti-dumping actions, and whether domestic consumption can keep pace with rising production.
Source: businesstoday.in
This story was synthesised by AI from the source linked above.
