Steel imports are rising, but India is not worried

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New Delhi: Union steel minister Jyotiraditya Scindia said India becoming a net importer of steel between April and November this fiscal year is not a concern for the government, terming the imports a drop in the ocean of total steel consumption in the country. “Indian steel production has gone up by 12.9% y-o-y (year-on-year). So, more steel is being produced, but the demand is also much more," he said. “When you look at the numbers, you are producing 128 million tons (mt) of steel and exporting 6-8mt, effectively using 122mt domestically. And coming in from abroad is 5 mt." India...