Ministry of Steel
STEEL EXPORTS AND TARIFF
Posted On:
01 APR 2025 4:29PM by PIB Delhi
The total quantity and value of finished steel exported from India to the USA in the last five years, year-wise is given below:-
|
Finished Steel Export to USA
|
|
Year
|
Quantity
(in ‘000 tonnes)
|
Value
(in Rs. Crores)
|
|
2019-20
|
51
|
571
|
|
2020-21
|
27
|
435
|
|
2021-22
|
214
|
2,621
|
|
2022-23
|
165
|
3,177
|
|
2023-24
|
95
|
1,924
|
|
Source: Joint Plant Committee (JPC)
|
Steel is deregulated sector and its import & export are determined by demand and supply, dynamics of market forces. The Government acts as a facilitator by creating a conducive environment for the development of steel sector in the country.
United States imposed additional tariff of 25% on Steel under Section 232 of Trade Expansion Act, 1962 in March, 2018 on a global basis. The GovernmentofIndia continues to engage with the Government of United States to achieve enhancement and broadening of bilateral trade ties in a mutually beneficial and fair manner. Both nations released a joint statement on February 13, 2025, reaffirming their commitment to deepening economic ties. Under the ambitious "Mission 500", both countries aim to more than double US-India trade to USD 500 billion by 2030 to be achieved by deepening the trade relationship across multiple sectors including steel.
This information was given by the Minister of State for Steel and Heavy Industries, Shri Bhupathiraju Srinivasa Varma in a written reply in the Lok Sabha today.
*****
TPJ/NJ
(Release ID: 2117301)
Visitor Counter : 684