Kolkata: India returned to net exporter status in finished steel in FY26 for the first time since FY23, with outbound shipments of 6.6 million tonnes marginally outpacing imports of 6.5 million tonnes, according to data released by the ministry of steel.Exports surged 35.9% year on year while imports fell sharply by 31.7%, enabling India to strengthen its footprint in global markets including West Asia, Europe and Southeast Asia. In the two intervening years — FY24 and FY25 — India had been a net importer of the alloy.Domestic production continued its upward trajectory, with crude steel output growing 10.7% year on year to around 168.4 million tonnes in FY26. Finished steel consumption rose approximately 8% to 164 million tonnes.The industry faced headwinds in the latter part of the fiscal, however, as geopolitical tensions in West Asia disrupted gas supplies and caused shortages of industrial fuels including LPG, threatening production continuity for several manufacturers.On prices, the ministry noted that steel prices had followed a downward trend over the past three years before recovering in early 2026, though profitability remained under pressure due to fluctuating raw material costs.
