Shining sector
4 years, 9 months ago

Shining sector

The Hindu  

In February, the Press Information Bureau announced that according to World Steel Association data, India had become the second largest steel producer of crude steel after China in 2018 and 2019, replacing Japan. Data from the association showed that China also led the world in exports of steel products in 2018, followed by Japan, Russia, South Korea and Germany. According to a report by the India Brand Equity Foundation in December 2019, India’s crude steel production capacity rose from 80.36 million tonnes in 2010-11 to 137.97 million tonnes in 2018-19. The IBEF report also said that finished steel production more than doubled from 60.62 million tonnes in 2009-10 to 131.57 million tonnes in 2018-19, while consumption of finished steel products rose from 59.34 million tonnes in 2009-10 to 97.54 million tonnes in 2018-19, a growth of nearly 65 per cent.

India 2018 Steel Million Tonnes  million  exports  2018  rose  furnaces  tonnes  india  followed  sector  steel  shining  world

History of this topic

The week in charts: GDP estimate, Nadella’s plan, ₹100 crore homes
4 days, 10 hours ago

The week in charts: GDP estimate, Nadella’s plan, ₹100 crore homes

Live Mint  

The first advance estimates released on Tuesday forecast India's growth at 6.4%, the slowest in four years. Services dominance India’s services exports surpassed goods exports, reaching $35.7 billion—about $3 billion more than goods--in November 2024, preliminary data showed. India’s share in global services exports has steadily grown, reaching 4.2% by 2023, while its share in goods exports has remained flat …

India is shining but needs to go beyond IT to become global power
6 days ago

India is shining but needs to go beyond IT to become global power

Firstpost  

In order to compete and excel China as an economic and military power, India needs to add hard muscle power to its digital power. Recent statistics showing India’s services exports surpassing its merchandise exports are not just numbers but a testament to the country’s growing strategic importance in the global tech services value chain. The presence of these centres underscores …

China exports push Nippon Steel to seek growth in US, India after blocked deal
1 week, 1 day ago

China exports push Nippon Steel to seek growth in US, India after blocked deal

The Hindu  

Nippon Steel is poised to expand its operations in the U.S. and India as it hunts for growth and protection from cheap Chinese exports after its bid for U.S. Steel was blocked by the White House, analysts say. China, by far the world's largest steel producer, has flooded the market with near-decade high export volumes as its struggling property sector …

India’s Services Exports Hit Historic High In Oct, Find Out Why
2 weeks, 3 days ago

India’s Services Exports Hit Historic High In Oct, Find Out Why

ABP News  

India’s services exports reached a historic high of $34.31 billion in October, a commerce ministry official revealed. The official further noted that India has made a name for itself as a global leader in digitally delivered services exports, backed by its strong IT sector and skilled workforce, reported PTI. In the last two decades, India grew from $30 billion in …

Outlook 2025: Tata Steel, JSW, JSPL, SAIL others; Improvement in domestic steel prices hold key
3 weeks ago

Outlook 2025: Tata Steel, JSW, JSPL, SAIL others; Improvement in domestic steel prices hold key

Live Mint  

Outlook 2025: The returns for investors by steel stocks during 2024 have remained a mixed bag. Range bound steel prices The mixed bag returns by Steel manufacturers have been led by range bound steel prices in the domestic markets, though steel demand in the country has remained good. The weak China demand has been the reason as it meant higher …

India’s trade braces for an action-packed 2025
3 weeks, 1 day ago

India’s trade braces for an action-packed 2025

Live Mint  

India’s external trade, navigating a phase of uncertainty owing to the European Union's new carbon tax on imports and slowing consumption in Europe, is set face further pressure. Yet, according to Pralok Gupta, associate professor, Indian Institute of Foreign Trade, which operates under the ministry of commerce and industry, “If US imposes high tariffs on China, India may face collateral …

India’s imports rises to 27%, touches to record high of almost $70 billion
4 weeks, 2 days ago

India’s imports rises to 27%, touches to record high of almost $70 billion

The Hindu  

India’s merchandise exports fell 4.83% to $32.11 billion in November while the import bill jumped 27% to a record high of almost $70 billion, as per data released by the Commerce Ministry. This is the third time in four months that India’s import bill has hit a record high, but November’s tally surpasses the last two occasions by a wide …

India’s exports rise, boosting global presence
1 month, 1 week ago

India’s exports rise, boosting global presence

Deccan Chronicle  

New Delhi: India is eyeing to be a global economic powerhouse with its remarkable achievements in the export landscape. “India’s export performance in several key product categories has shown notable success, with the country maintaining or improving its rank among the top 10 global suppliers, all with export values exceeding $1 billion in 2023,” the ministry said. “The petroleum sector …

India’s steel industry to grow at 8%; capacity to rise by 20 million tons by FY2027: report
1 month, 3 weeks ago

India’s steel industry to grow at 8%; capacity to rise by 20 million tons by FY2027: report

Live Mint  

New Delhi, November 20 : The annual capacity of India's steel industry will increase by 20 million tons between the financial year 2025-27, says Acuite Ratings & Research in its recent report. The report gives a positive outlook for the Indian steel industry in the medium to long term.Driven by strong growth in the automotive, real estate, and infrastructure sectors, …

Pharma, electronics and engineering goods among India’s top exports during Apr-Oct
1 month, 4 weeks ago

Pharma, electronics and engineering goods among India’s top exports during Apr-Oct

Live Mint  

New Delhi: India's merchandise exports continued their upward trajectory during April-October, with 21 of the top 30 sectors registering growth in value terms, buoyed by rising global demand for Indian goods. Growth in key sectors like pharmaceuticals, electronics, and engineering goods contributed to the overall gains, while a sharp decline was reported in traditionally strong sectors—petroleum and gems and jewellery—amid …

Indian Apparel Exports Soar 17.3% in September, Boosting Global Supply Chain
2 months, 4 weeks ago

Indian Apparel Exports Soar 17.3% in September, Boosting Global Supply Chain

The Hindu  

Indian apparel exports saw a significant surge in September, with a 17.3% increase compared to the same period last year. This growth is expected to continue in the coming months, with 15%-20% higher exports projected for 2024-2025. This surge is attributed to the increasing popularity of Indian products and the growing focus on sourcing from India by international buyers.

How India can fix the Chinese imports problem
3 months, 1 week ago

How India can fix the Chinese imports problem

Live Mint  

India last month extended countervailing duties of 12-30% on certain steel imports from China and Vietnam, following requests from local producers to safeguard against cheaper imports. Read this | Mint Primer | China’s stimulus: What it spells for India & the world A growing economy like India’s naturally requires more imports to meet rising consumption and manufacturing demand, with cost …

Is the spike in India’s trade deficit a worry?
3 months, 3 weeks ago

Is the spike in India’s trade deficit a worry?

The Hindu  

The story so far: After a positive start to goods exports in the first quarter of 2024-25, there has been a blip in momentum. On the exports front, 18 of India’s top 30 segments recorded growth in July and 19 in August, but the big-ticket sectors like petroleum, and gems and jewellery, have tanked significantly. While gems and jewellery exports …

India's Exports to Bangladesh, Russia Decline Sharply
4 months, 3 weeks ago

India's Exports to Bangladesh, Russia Decline Sharply

Deccan Chronicle  

Chennai: Conflict-ridden markets like Bangladesh and Russia reported a slumping engineering goods offtake in July, despite the industry clocking a positive growth in shipments. Engineering exports to Bangladesh fell 11.8 per cent year-on-year to $153.78 million in July 2024, against $174.35 million in July 2023. The value of engineering exports to Russia declined 26.8 per cent in July this year …

India has made strides to further self-reliance in defence, exporting weapons too: PM
4 months, 4 weeks ago

India has made strides to further self-reliance in defence, exporting weapons too: PM

Hindustan Times  

NEW DELHI: In his 98-minute Independence Day speech delivered from the imposing Red Fort on a drizzly morning, Prime Minister Narendra Modi on Thursday captured the strides made by India to further self-reliance in the critical defence manufacturing sector and how the country had gradually transformed itself from being an importer of military hardware to an exporter. India has made …

India’s trade to improve amid easing global challenges: Economic Survey
5 months, 3 weeks ago

India’s trade to improve amid easing global challenges: Economic Survey

Live Mint  

Amid geopolitical headwinds and sticky inflation, India’s exports remained strong in the financial year 2023-24, the Economic Survey asserted, adding that trading in goods is expected to improve this year and the next. Though merchandise exports moderated owing to lower demand from major trading partners, India performed well in the export of services, lowering the country’s overall trade deficit from …

India's exports soar 2.56 per cent to USD 35.2 billion in June: Govt data
6 months ago

India's exports soar 2.56 per cent to USD 35.2 billion in June: Govt data

India TV News  

The government of India on Monday released data on the exports by the nation in the month of June. According to the data, India's merchandise export in June increased by 2.56 per cent to $35.32 billion compared to $34.32 billion in June last year. In May, the country's merchandise exports increased by 9.1 per cent and reached USD 38.13 billion, …

India lucrative for steelmakers because of higher infra spending, economic growth
6 months, 3 weeks ago

India lucrative for steelmakers because of higher infra spending, economic growth

Hindustan Times  

Despite a slowdown in exports and increasing Chinese steel output impacting India's share in the markets, steel makers in the country are optimistic about the domestic demand. The case with steel exports Indian exports have been affected by a variety of reasons in the recent past including low production due to scheduled maintenance shutdowns, preference for the domestic market over …

India's industrial output's year-on-year growth increases to 5% in April 2024
7 months ago

India's industrial output's year-on-year growth increases to 5% in April 2024

Hindustan Times  

The Index of Industrial Production grew by 5% for April 2024, compared to 4.6% growth during the same month of the previous year. IIP tracks activity in manufacturing, mining, and electricity generation IIP shows the performance of the industrial sector. The IIP figure for April 2024 stood at 147.7 compared to 140.7 in the same month last year, according to …

Cheaper Chinese steel pulls down Indian exports
7 months, 3 weeks ago

Cheaper Chinese steel pulls down Indian exports

Deccan Chronicle  

Chennai: Apart from the Red Sea crisis, increasing shipments of cheaper Chinese steel hit exports from India in April. After experiencing steady growth in the last four months, India’s engineering exports declined in April by 3.2 per cent primarily due to lower shipments of metals, especially iron and steel, and copper. A substantial 36.41 per cent decline in exports of …

Goods exports hit 12-month high of $41.68 billion in March
8 months, 4 weeks ago

Goods exports hit 12-month high of $41.68 billion in March

The Hindu  

India’s goods exports hit a 12-month high of $41.68 billion in March, although it constituted a 0.67% decline from last year’s tally, while imports dropped 6% to $57.3 billion last month. Goods imports dropped by a sharper 5.41% to $677.24 billion in 2023-24, which helped moderate India’s trade deficit for the year to $240.2 billion, 9.33% lower than the preceding …

Japan’s exports rise nearly 8% in February on strong shipments of cars and machinery
9 months, 3 weeks ago

Japan’s exports rise nearly 8% in February on strong shipments of cars and machinery

Associated Press  

TOKYO — Japan’s exports rose 7.8% in February from a year earlier on strong shipments of cars and electrical machinery, the government said Thursday. Exports in February totaled 8.2 trillion yen, marking the third straight month of growth, according to preliminary customs data. The picture for imports was mixed, with China supplying 1.7 trillion yen, a nearly 17% annual increase …

India’s monthly merchandise exports rise to $41.40 billion in February
9 months, 4 weeks ago

India’s monthly merchandise exports rise to $41.40 billion in February

Hindustan Times  

NEW DELHI: India reported a robust 12% annualised growth in merchandise exports at $41.4 billion in the month of February despite global headwinds, narrowing contraction in the first 11 months of 2023-24 by 3.6% to $395 billion, a senior official said. In 2022-23, India’s merchandise exports crossed $451 billion while overall exports achieved a record $770 billion. Releasing the monthly …

After 3 years, Steel demand to grow in single digits in 2024-25
10 months, 1 week ago

After 3 years, Steel demand to grow in single digits in 2024-25

The Hindu  

With imports from China and Vietnam rising since last October, India is likely to be a net finished steel importer in 2023-24 after a gap of five years, and is likely to remain so in the coming year as well unless the external demand environment improves meaningfully, rating agency ICRA has said. Moreover, domestic steel consumption growth is expected to …

Key markets remain positive for engineering exports
10 months, 3 weeks ago

Key markets remain positive for engineering exports

Deccan Chronicle  

Chennai: Despite the Red Sea crisis, top markets, including the US, China, UAE and Russia remained positive for engineering exports in January. Engineering goods exports to as many as 13 out of the 25 top markets that contribute to 76 per cent of the total shipments recorded positive year-on-year growth in January 2024. Engineering shipments to the US rose 6 …

India’s merchandise exports up 3.12% in January
10 months, 4 weeks ago

India’s merchandise exports up 3.12% in January

Hindustan Times  

India’s merchandise exports reported a 3.12% increase to $36.92 billion in January despite global headwinds, showing positive growth for the second consecutive month, with overall exports -- both goods and services -- estimated to have risen 9.27% to $69.72 billion in the month, government data released on Thursday said. Releasing trade data for January, commerce secretary Sunil Barthwal said, “Despite …

Indian steel exports at high risk from Europe's new carbon tax: Goldman Sachs
11 months ago

Indian steel exports at high risk from Europe's new carbon tax: Goldman Sachs

Hindustan Times  

Steel producers in India are most at risk from Europe’s new carbon tax on imports due to their high sales to the region and mills’ elevated emissions intensity, according to Goldman Sachs Group Inc. Steel is traditionally among the most polluting industries. Europe’s Carbon Border Adjustment Mechanism aims to subject imported goods such as steel to a levy to ensure …

JSW Steel crude steel production rises 12 per cent YoY in Q3
1 year ago

JSW Steel crude steel production rises 12 per cent YoY in Q3

India TV News  

JSW Steel recorded a 12 per cent year-on-year surge in its crude steel production for the third quarter of FY24. JSW Steel observed a 9 per cent year-on-year increase in crude steel production at its Indian operations, reaching 6.63 million tonnes. Meanwhile, its USA-Ohio operations exhibited significant growth, recording a 191 per cent surge in crude steel production year-on-year, totaling …

India's April-Nov steel imports from China at five-year high
1 year ago

India's April-Nov steel imports from China at five-year high

Firstpost  

China was the top exporter of finished steel to India between April and November, shipping 1.3 million metric tons of the alloy, up 48.2% from the same period a year earlier. China emerged as the leading exporter of finished steel to India from April to November, sending 1.3 million metric tons of the alloy, marking a 48.2% increase compared to …

How India, not China, is leading the revival in global steel
1 year ago

How India, not China, is leading the revival in global steel

Live Mint  

After a slump in 2022, the global steel industry is set to close 2023 with marginal growth. After making a smart recovery from the pandemic in 2021 when production grew 3.6% at 1,912 million tonnes, the global steel industry slumped by 4.3% at 1,831.5 mt last year. The reasons for the decline last year were a fragile world economy grappling …

India's steel import to be elevated at 6MT in FY24 on strong demand: Crisil
1 year ago

India's steel import to be elevated at 6MT in FY24 on strong demand: Crisil

The Hindu  

India imported 4.26 MT finished steel in April- November 2023 and the import may touch 6 MT mark in the current fiscal mainly on account of strong domestic demand, according to a report by Crisil. "Strong domestic demand, supported by government spending on infrastructure, building and construction segments, is expected to keep India's steel imports elevated around the 6 MT …

India sees 6.2% rise in goods exports in October
1 year, 1 month ago

India sees 6.2% rise in goods exports in October

The Hindu  

India’s goods exports grew only for the second time in 2023-24 in October, albeit on a low base, rising 6.2% to $33.6 billion, but imports jumped to a record high of $65.03 billion, 12.3% over last year, fuelled by higher gold inflows. Consequently, India’s monthly goods trade deficit widened to an all-time high of $31.46 billion, eclipsing the previous record …

Trade deficit eases as imports plunge
1 year, 3 months ago

Trade deficit eases as imports plunge

Live Mint  

India’s trade deficit narrowed in September as imports plunged and exports continued to slide amid slowing demand in the West and China. Goods exports slipped marginally by 2.59% to $34.47 billion compared to $35.39 billion in September 2022, while imports fell a steeper 15% to $53.84 billion against $63.37 billion a year earlier. “India’s merchandise trade deficit compressed considerably to …

India’s global exports in labour-intensive sectors declined in last 5 years: FIE
1 year, 3 months ago

India’s global exports in labour-intensive sectors declined in last 5 years: FIE

Live Mint  

With India experiencing a decline in global market share across segments during the last five years, the labour-intensive export sectors such as apparels, marine products, plastics, and gems and jewellery are showing a "troubling pattern", news agency PTI quoted FIEO report as saying. "An analysis of sector-wise export performance for the last five years reveal the troubling pattern that India …

Centre monitoring steel import situation as China shipments touch 5-yr high
1 year, 4 months ago

Centre monitoring steel import situation as China shipments touch 5-yr high

Business Standard  

India is monitoring steel imports after shipments from China touched a five-year high in the first four months of the fiscal year that began in April, the country's steel secretary told Reuters on Monday. During April-July, China was the second-biggest steel exporter to India, after South Korea, selling 0.6 million metric tons, up 62% from the same period a year …

Top 5 steel companies in India by growth
1 year, 5 months ago

Top 5 steel companies in India by growth

Live Mint  

Steel is one commodity that has held a top position among metals for a long time. In the last five years, the contribution of finished steel products to the revenue mix has gone up significantly. View Full Image EM Going forward, the company's expansion plans, and the government's infrastructure push are expected to drive revenue and profit growth. View Full …

China, Vietnam's share in India's steel import basket rose during June 2023, shows data
1 year, 5 months ago

China, Vietnam's share in India's steel import basket rose during June 2023, shows data

India TV News  

The share of countries like China and Vietnam in India's 4.84 LMT steel import basket during June 2023 has increased on a year-on-year basis, according to official data. At 4.84 lakh metric tonne, India's overall steel import registered a 5.9 per cent increase on a month-on-month basis and 7.6 per cent over June 2022, the Ministry of Steel said. However, …

India’s exports fall 12.7% to $34.66 billion in April
1 year, 7 months ago

India’s exports fall 12.7% to $34.66 billion in April

Live Mint  

India's exports dipped by 12.7 per cent year on year to $34.66 billion in April this year, the government data showed on Monday. India's April trade deficit stood at $15.24 billion, while overall imports were valued at $49.90 billion. India’s services exports rose $30.36 billion as compared to $24.05 billion in the year ago perriod. India’s overall exports in April …

Goods exports grew 6% , imports 16.5% this fiscal
1 year, 9 months ago

Goods exports grew 6% , imports 16.5% this fiscal

The Hindu  

India’s goods exports declined for the second successive month in March, falling a sharp 13.9% to $38.38 billion while imports dipped 7.9% to $58.11 billion. “Despite the global headwinds, we have surpassed our 2022-23 target of $750 billion dollars to hit $770.18 billion, which is $94 billion higher than last year’s record exports,” Commerce Secretary Sunil Barthwal said, using services …

Merchandise exports down 9% in Feb
1 year, 9 months ago

Merchandise exports down 9% in Feb

Live Mint  

New Delhi: India’s merchandise exports declined by nearly 9% in February, the third contraction in the current fiscal, led by a persistent demand slowdown across major markets including the US and the European Union. “Amid a challenging external environment and tepid demand from key markets, engineering goods exports have seen a downward trend and recorded negative growth in seven out …

Indian Exports Decline 8.8 Per Cent To $33.88 Billion In February
1 year, 9 months ago

Indian Exports Decline 8.8 Per Cent To $33.88 Billion In February

ABP News  

India's exports declined in February for the third consecutive month by 8.8 per cent to $33.88 billion against $37.15 billion in the same month last year, according to the data released by the commerce ministry on Wednesday. Imports also declined by 8.21 per cent to $51.31 billion as against $55.9 billion recorded in the corresponding month last year. During April-February …

Exports fell 8.8% in February, but trade deficit also shrank over 7%
1 year, 10 months ago

Exports fell 8.8% in February, but trade deficit also shrank over 7%

The Hindu  

Tentative global demand pulled India’s goods exports down 8.8% in February to $33.9 billion, while imports fell 8.2% from a year ago to $51.31 billion, according to Commerce Ministry estimates released on Wednesday. The merchandise trade deficit during February 2023 fell 7% to $17.43 billion, slightly higher than January’s $16.56 billion deficit, which in turn was the lowest in at …

India To Witness Record High Merchandise Exports Of $447.3 Bn During FY2023
1 year, 10 months ago

India To Witness Record High Merchandise Exports Of $447.3 Bn During FY2023

News 18  

Export-Import Bank of India has said India’s total merchandise exports to consistently remain above $100 bn for the fourth consecutive quarter of FY2023, amounting to $110.9 bn, while non-oil exports are forecast to amount to $87.7 bn during the same period. India’s exports could be shadowed by deepening global energy crisis, tighter global monetary and financial conditions, continued slowdown in …

India's services exports to cross $300bn target for this fiscal: Piyush Goyal
1 year, 11 months ago

India's services exports to cross $300bn target for this fiscal: Piyush Goyal

The Hindu  

The country's services exports are doing “extremely well” and going by the current trend these outbound shipments would register about 20% growth in this fiscal and cross the $300 billion target despite global economic uncertainties, Commerce and Industry Minister Piyush Goyal has said. With all these stress, where every global leader is talking of “very” tough times, India's exports rose …

Trade winds: The Hindu Editorial on Indian exports data December 2022
1 year, 11 months ago

Trade winds: The Hindu Editorial on Indian exports data December 2022

The Hindu  

December 2022 marked the steepest fall in two years for India’s goods exports, with products worth $34.5 billion shipped out — 12.2% lower than a year ago. For now, December’s export numbers, even if lifted by the last batches of pre-holiday festive shipments reaching their destined shores, hold up well on this front vis-à-vis October and November’s initial trade estimates. …

Amid slowing demand, exports dip by 12.2%; imports contracts 3.5%
1 year, 11 months ago

Amid slowing demand, exports dip by 12.2%; imports contracts 3.5%

The Hindu  

India exported goods worth $34.48 billion in December 2022, constituting a 7.75% rise from November’s $32 billion figure but a steep 12.2% dip from a year ago, amid slowing global demand. Consequently, the country’s merchandise trade deficit inched up from just under $24 billion in November to $24.24 billion in December, remaining under the $25 billion mark for the second …

Turning tide: On India’s goods exports
2 years ago

Turning tide: On India’s goods exports

The Hindu  

India’s goods exports rebounded from a nearly 17% dip in October to a mild 0.6% uptick in November. Their share in exports growth has been shrinking since June, with the contraction accelerating for many sectors from September to November — engineering goods that drove much of India’s record $422 billion goods exports in 2021-22, contracted 11.3% while textiles fell a …

Exports flat at $31.99 bn in Nov, trade deficit at $23.89 bn
2 years ago

Exports flat at $31.99 bn in Nov, trade deficit at $23.89 bn

Live Mint  

India's merchandise exports recorded a flat growth at $31.99 billion in November as against $31.8 billion in the same month last year, while the merchandise trade deficit stood at $23.89 billion from $26.91 billion in the previous month, data released by the Ministry of Commerce & Industry showed on Thursday. Textile exports in India dropped due to global demand slowdown …

China's iron ore traders seek low-cost Indian supplies as steel margins slump
2 years, 1 month ago

China's iron ore traders seek low-cost Indian supplies as steel margins slump

The Hindu  

China is set to snap up significant volumes of low-grade Indian iron ore in coming weeks, as Chinese steelmakers seek out cheaper raw materials to cope with meagre profits, said traders and analysts. "We are looking to resume buying from India after six months of suspension," said a Shanghai-based iron ore trader who booked some cargoes of Indian pellets for …

Removal of Export Duty Will Lead to New Era of Growth for Steel Industry: Scindia
2 years, 1 month ago

Removal of Export Duty Will Lead to New Era of Growth for Steel Industry: Scindia

News 18  

Removal of export duty on steel products will lead to a new era of growth for the domestic steel industry which has gained footprint internationally, Union minister Jyotiraditya Scindia said on Monday. It has taken years for the domestic steel industry to gain footprint in the international markets, the steel minister said at the 3rd Indian Steel Association conference in …

Discover Related