India's April-Nov finished steel exports fall 55% YoY on low demand

09 Dec 2022 CW Team

According to the most recent government data, India's finished steel exports more than halved during the first eight months of the current fiscal year, which started in April.

Between April and November, finished steel exports fell by 55% to 4.3 million tonnes as a result of a slowdown in global demand and India's decision to tax some steel shipments.

The export tax was abolished by the government last month, but steelmakers and business leaders predicted that it would be difficult for mills to reclaim their previous markets, especially those in Europe.

India, the second-largest producer of crude steel in the world, was a net exporter of the alloy despite a decline in exports.

India imported 3.8 million tonnes of finished steel in the first eight months of its financial year, up 22.5% from a year earlier. Crude steel production jumped 5.6% to 81.9 million tonnes.

The country's finished steel output rose 6.4% to 77.7 million tonnes, while consumption went up by 12% to 75.3 million tonnes between April and November.

Also Read
Marquardt Group establishes global R&D centre in Pune
Sterlite Power to maintain Kishtwar Transmission in J&K

Infrastructure Urban

10 Mar 2026

ABB to Invest Rs 6.25 Billion to Expand India Manufacturing

ABB recently announced plans to invest approximately Rs 6.25 billion ($75 million) in India during 2026 to expand its manufacturing footprint and research and development capabilities. The investment follows more than $35 million spent in 2025 and reflects the company’s continued focus on strengthening its ‘local-for-local’ strategy in the country.The investment will support ABB’s Electrification, Motion and Automation businesses and expand manufacturing capacity for infrastructure sectors such as renewable energy, metro rail, data centres and industrial applications. Approximately 300..

Six WOLFF Cranes Handle 60,000 m³ Concrete for German Hospital

Six WOLFF tower cranes are playing a key role in constructing a new hospital complex in Memmingen, Germany, supporting large-scale material handling for the project. The facility is being built on a 7.7-hectare site and will feature six floors, around 480 beds and a gross floor area exceeding 75,000 sq m.Building shell works began recently in February 2025. One WOLFF 6531.12 Cross crane supported early site preparation before being dismantled in autumn 2025, while five remaining cranes continue operations. Over an average deployment period of 16 months, the cranes are expected to move approxim..

REC Funds Rs 115.6 Million CSR Support for Bihar Eye Hospital

REC recently committed Rs 115.6 million under its Corporate Social Responsibility (CSR) programme for the procurement of clinical and non-clinical equipment at Sankara Eye Hospital in Saharsa, Bihar. The initiative aims to strengthen healthcare infrastructure and improve access to specialised eye care services in the region.A Memorandum of Agreement (MoA) was recently signed between Pradeep Fellows, Executive Director (CSR), REC Limited, and Wg Cdr V. Shankar (Retd), Trustee and Executive Director of Sankara Eye Hospital, at the REC office in the SCOPE Complex, New Delhi.The support is expecte..