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India's Steel Exports Surge 29.1% in March 2026, Imports Drop 9.5%

India's steel exports rose by 29.1% in March 2026 compared to the same month last year, while imports declined by 9.5%, reflecting growing self-reliance. Steel production registered a robust 9.1% growth in the financial year 2025-26. The government's PLI scheme has attracted Rs 23,022 crore investment, creating over 13,000 jobs in specialty steel production. Top export destinations include Vietnam, Belgium, and Taiwan, together accounting for over 50% of finished steel exports.

Key Points: India Steel Exports Surge 29.1% in March 2026

  • Steel exports surge 29.1% in March 2026
  • Imports decline sharply by 9.5%
  • Production grows 9.1% in FY2025-26
  • PLI scheme creates over 13,000 new jobs
2 min read

India's steel exports surge 29.1 per cent amid rising self-reliance

India's steel exports rise 29.1% in March 2026, imports fall 9.5%. Production grows 9.1% in FY26, driven by PLI scheme and Atmanirbhar Bharat push.

"India has also established itself as a leading exporter of iron and steel alloys - Official Statement"

New Delhi India's exports of steel rose b, y 29

.1 per cent in March 2026 compared to the same month of the previous year, while imports declined sharply by 9.5 per cent, reflecting the increasing self-reliance in the sector, according to an official statement issued on Tuesday.

The positive shift underscores India's emergence as a reliable global steel supplier. It also demonstrates the country's improved ability to meet rising domestic demand.

India's steel production registered a robust 9.1 per cent growth in the financial year 2025-26 compared to the same period last year, reflecting the increasing self-reliance in the sector.

India has also established itself as a leading exporter of iron and steel alloys. Rising exports of steel and related products contribute to higher foreign exchange earnings. This, in turn, helps improve the trade balance. It supports the broader vision of a self-sustained and resilient industrial ecosystem under Atmanirbhar Bharat, the statement said.

The top destinations for India's finished steel exports in March 2026 were Vietnam, Belgium, and Taiwan. Together, they comprise more than 50 per cent of India's total finished steel exports.

Besides, exports of finished steel increased by 35.80 per cent in FY 2025-26 compared to the same period last year. Meanwhile, imports declined by 46.47 per cent during the same period.

The government has implemented several measures to strengthen raw material availability, ensure global market access, and reduce import dependence. These steps have lowered production costs, driven growth in the steel industry, and supported MSMEs and small steel producers.

Under the PLI scheme, Rs 23,022 crore investment supported specialty steel production and job creation. This resulted in 2.4 million tonnes of output and over 13,000 new jobs. India has achieved about 66 per cent of its National Steel Policy production target.

Specialty steel is the downstream, value-added product of the steel manufacturing process. It is one of the 14 sectors covered under the PLI Scheme, which aims to boost domestic production of high-value steel. It will improve the trade balance and raise export value realisation. It will also help the Indian steel industry upgrade technology and move up the value chain, the statement said.

Going forward, green steel aims to reduce emissions by avoiding the use of fossil fuels to reduce the carbon footprint. India is also committed to decarbonising the sector and achieving net-zero emissions by 2070, the statement added.

- IANS

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Reader Comments

P
Priya S
Good to see imports dropping by 46%! But I wonder about the quality of steel being exported vs what we use domestically. Also, are we meeting our own infrastructure needs first? The housing and road projects need quality steel too.
V
Vikram M
The PLI scheme for specialty steel is a masterstroke. 2.4 million tonnes output and 13,000 jobs - that's real impact. We need more such focused schemes for other industries too. Green steel by 2070 target is ambitious but achievable if we start now.
N
Naveen S
Vietnam and Belgium as top export destinations - shows our steel is competitive globally. But the real test will be sustaining this growth when global demand fluctuates. Hope the government also focuses on reducing production costs for MSMEs in this sector.
S
Sneha F
Good numbers but I wish the article mentioned environmental impact. Steel production is energy-intensive. With climate change concerns, how are we ensuring sustainable practices? The green steel mention is promising but needs concrete timeline.
R
Rahul R
As someone working in a small steel trading firm, this is encouraging. But we need better logistics and port infrastructure to handle increased exports. Also, MSMEs should get easier access to raw materials at competitive prices. Small players are the backbone of this industry.
K
Kavya N

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