India has had limited success in benefiting from the ‘China Plus One strategy,’ while countries like Vietnam, Thailand, Cambodia, and Malaysia have gained more from factors such as lower labor costs, simplified tax laws, reduced tariffs, and active Free Trade Agreements, according to Niti Aayog report. It said that the...
India remains a net steel importer, with China as its top supplier, importing 2.69 million metric tons and exporting 1.57 million tons this fiscal year. Despite strong domestic demand, steel prices have dropped to a three-year low due to rising imports and sluggish exports. India stood out as the only...
Steel plays a pivotal role in the generation, transmission, and optimization of energy, making it an indispensable sector for any economy. Anticipated to experience substantial demand in both the domestic and global arenas, steel is poised to retain its significance in the foreseeable future. With India strategizing to double its...
India’s steel capacity and production have grown steadily over the last 9 years, making the country a net exporter of steel. However, with domestic HRC trading at a premium to imports, there is a strong possibility of India turning a net importer of steel again in 2023-24. IBT analyses the...
India’s steel industry faces disadvantages due to FTAs with Japan and South Korea despite being the most cost competitive among major global steel producers. It is important for the government to renegotiate the FTAs with provisions to curb excess imports. India’s overall merchandise trade deficit with major RTA/FTA partners has...
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