Press Information Bureau

Government of India

Ministry of Steel

29-November-2012 16:07 IST

The Minister of Steel, Shri Beni Prasad Verma has said that import of finished steel from all sources, including Japan and Korea has marginally increased from 6.66 million tonnes in 2010-11 to 6.83 million tonnes in 2011-12 i.e. an increase of 2.4%.

In a written reply in the Rajya Sabha today Shri Verma said, during 2011-12, the real consumption of finished steel in the country was 70.92 million tonnes as against the production of 73.42 million tonnes. However, for meeting any mismatch of domestic supply and demand or otherwise, import/ export of finished steel is also permissible.

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NSK/DB

Import and export of finished steel permitted to address supply-demand mismatch; imports showed a marginal increase last year. Import and export of finished steel is permissible to address mismatches between domestic supply and demand; reported trade data show a marginal increase in finished steel imports, and domestic consumption was lower than production in the latest year, indicating aggregate domestic output exceeded real consumption while trade remained available to meet imbalances.