Did you know? India is emerging as a global steel player because of the impressive expansion the country's steel industry has seen in recent years. Thanks to this rise in steel exports, India has also become a major exporter, despite being one of the world's largest steel producers for a long time.
Despite a 42% decrease in value, India exports more than $13 billion worth of iron and steel in the fiscal year 2023, according to steel export data from India. Although steel exports from India have the potential to be very profitable, their success also depends on cost containment and aggressive pricing. In this blog post, we will explore the dynamics of Indian steel exports, the top steel exporters around the world, and more interesting facts.
Steel exporting from India is a profitable opportunity for traders. Did you also know? India is the world’s 2nd largest producer of crude steel, with a production of 1245.32 million metric tons and a finished steel production of 121.29 million metric tons in 2023.
However, traders can profit from the growing demand for steel products in this industry. A thorough awareness of market insights like Indian steel export data and the steel exporters list is essential when starting a steel import-export business. You may get a list of Indian steel exporters or the most recent market details about steel exports from India at any moment by visiting Seair Exim Solutions.
Now, it’s time to review steel production and market demand!
Currently, steel employs roughly 6 lakh people directly and 20 lakh people indirectly in India, accounting for 2% of the country's GDP. Furthermore, India is a major player in the global steel market thanks to its advantageous position, which has a long coastline that facilitates imports and exports.
However, the demand increased in the fiscal year 2023–24 by 13–14% on an annual basis. In the future, it will increase by 10% more, according to Sinha. Approximately 145 million metric tons (MnT) of crude steel were produced in the 2023–24 fiscal year, up from 127 MnT in the previous fiscal year, according to government figures.
Here are some interesting insights you are likely to gain!
Here is the list of major steel producing countries in 2024.
|
Top Rank |
Top Steel Producing Countries |
Production Values (In metric tonnes) |
| 1 | China | 1.03 billion |
| 2 | India | 118.2 million |
| 3 | Japan | 96.3 million |
| 4 | USA | 85.7 million |
| 5 | Russia | 75.5 million |
| 6 | South Korea | 70.4 million |
| 7 | Turkey | 40.3 million |
| 8 | Germany | 40.06 million |
| 9 | Brazil | 36.1 million |
| 10 | Iran | 28.4 million |
So, China is the world's greatest steel manufacturer, producing 1,032,790 kt of steel annually. Find out which of the top 10 countries in the world will produce steel in 2024.
Let’s explore the dynamics of steel exports from India!
India has been a net exporter of completed steel for the last five years, with the exception of 2023–24 and April–May 2024, when it became a net importer. The information is in the table below:
However, India exported 7.5 million metric tonnes of finished steel in 2023–2024, an increase of 11.5% year over year. Data showed that the amount of crude steel produced was 143.6 million metric tonnes, up 12.9% over the previous year.
Now, explore the top steel exporting countries!
Here is the list of the biggest steel exporters in the world:
|
S.no. |
Top 10 Steel Exporting Countries |
Export Value (in million metric tonnes) |
| 1 | China | 68.1 |
| 2 | Japan | 31.7 |
| 3 | South Korea | 25.5 |
| 4 | Germany | 22.3 |
| 5 | Turkey | 18 |
| 6 | Russia | 17.9 |
| 7 | Italy | 16 |
| 8 | Belgium | 14.7 |
| 9 | India | 12.1 |
| 10 | Brazil | 12.1 |
So, China is the largest steel exporter in the world, as it exported 68.1 million metric tonnes of steel in 2022-23. Steel exports from India stood at 12.1 million dollars, making it the 9th top steel exporter. To get updated data on the export of steel from India, an updated list of steel exporters in India, and trending steel hs codes, visit Seair Exim Solutions and get the answers to all the related queries!
Here is the list of the top destinations for steel exports from India:
So, Italy is the biggest importer of Indian steel, as it imported 1.04 million metric tonnes in 2022-23. Apart from these above-listed countries, there are many developed and Middle Eastern countries that guarantee intense exports of steel from India for steel exporters in India.
Now, explore the list of major steel exporters in India!
Here is the list of the biggest steel exporters in India:
So, these are all the top steel exporters in India. Many of the largest exporters of steel export steel from India. Get the updated list of steel buyers, suppliers, and top Steel HS codes, get steel export data on our informative platform, Seair Exim Solutions, and bring your steel export business to new heights.
According to government officials data for the fiscal year 2023–24, which concluded on March 31, India was a net importer of finished steel.
According to the steel import data, India imported 8.3 million metric tonnes of completed steel between April and March, up 38.1% from the same period last year. Also, the demand for crude steel from the construction and automobile sectors in the world's second-biggest crude steel production is still strong.
Over time, India's steel consumption increased by 13.4% to 136 million metric tonnes, indicating a strong demand for the alloy in one of the fastest-growing nations globally.
Our informative platform, Seair Exim Solutions, can assist you by providing steel export data for 130+ countries in one click. Traders can explore the list of genuine steel buyers and steel exporters in India with contact details and past shipment values for export of steel from India.
Due to the increasing demand in the steel sector, steel exporters can run a profitable venture. Market research is required to make informative decisions about steel export from India. India steel export data at Seair Exim Solutions is the end solution that will evaluate the market insights for the export of steel from India. Our team of experts is ready to help you at any time. Connect with us by clicking here and registering for a free demo.
Q1. Which is the largest exporter of steel in India?
Tata Steel Ltd is the largest exporter of steel in India, followed by JSW Steel and Steel Authority of India Limited (SAIL).
Q2. Which countries export steel from India?
Italy is the biggest importer of Indian steel, as it imported 1.04 million metric tonnes in 2022-23, followed by Vietnam and the UAE.
Q3. Who is the largest steel exporter in the world?
China is the largest steel exporter in the world, as it exported 68.1 million metric tonnes of steel in 2022-23
Q4. Who is the biggest steel exporter to India?
As per steel export data, China is the biggest steel exporter to India, exporting mostly cold rolled coil, sheets, and plates to India.
Q5. What is the best-quality steel?
Grade 304 Stainless steel is considered the best steel alloy due to its high tensile strength, corrosion resistance, and temperature.
Q6. Which steel brand is best in India?
Tata Steel Limited is considered the best steel brand in India. It is known for its quality steel and reliable service. It provides steel in more than 90 countries.
Q7. Who are the 5 largest producers of steel?
China, India, Japan, the United States, and Russia are the 5 largest producers of steel. China alone accounts for around half of the total steel global output.
Steel exports from India to USA
Steel exports from India to Europe
Steel exports from India South Korea
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