Domestic demand for steel soars in India, country turns net importer in fiscal year 2024: CRISIL Report

New Delhi [India], June 20 (ANI): In a shift from its status as a net exporter of steel since fiscal 2017, India has become a net importer in fiscal 2024, recording an overall steel trade deficit of 1.1 million tonnes (MT), according to a CRISIL report.

The development highlights a dynamic change in the country's steel trade landscape, largely influenced by surging domestic demand and increased imports from major steel-pr