India's Steel Exports Drop by a Third Amidst Chinese Competition

31 Aug 2023 CW Team

India's steel exports have plummeted by 33% due to sluggish international demand and intensified competition from Chinese steel producers. Despite this setback, the robust domestic market has shielded local steel manufacturers from significant impact. The competition from China, which has been flooding markets including India, stems from both increased exports and competitive pricing strategies.

China's steel exports, including those to India, have surged recently, with Indian imports reaching a multi-year high during the June quarter. Chinese mills are reportedly undercutting rivals globally with lower prices. Consequently, Indian steel exporters have witnessed reduced sales to destinations like the Middle East and Vietnam, as these regions opt for Chinese steel. Notably, India's steel shipments dropped to 780,000 tonnes per month on average between January and July, compared to the 1.08 million tonnes averaged in the preceding year, based on SteelMint's data.

Despite the decline in exports, industry experts assert that Indian steelmakers will experience limited margin effects. Domestic steel prices remain strong, and internal demand remains favorable due to India's comparatively robust economic situation. In fact, Indian steel companies have prioritised meeting domestic market demands to support the nation's economic growth journey. The rise in steel production and consumption within India during the initial six months of the year reflects this strategy. According to Ranjan Dhar, Senior Vice President and Chief Marketing Officer at AM/NS India, the decline in exports underscores Indian steel mills' commitment to propelling India's growth through domestic market prioritisation.

Real Estate

26 Jun 2026

AGM Vijaylaxmi launches Sixty3 W.E. Bizpark

AGM Vijaylaxmi Group has launched Sixty3 W.E. Bizpark, a mixed-use commercial development in Goregaon East, Mumbai. The project includes contemporary office spaces and a high-street retail component designed to support businesses, retailers and professionals.Located along the Western Express Highway, Sixty3 W.E. Bizpark is planned as a G+25-storey commercial tower. It offers office spaces ranging from 545 sq ft to 3,200 sq ft, with a 3.60 metre floor-to-floor height aimed at improving spatial comfort, natural light and operational efficiency.The project features a high-street retail boulevard ..

Manglam Group to Develop Sheraton Hotel in Jaipur

Manglam Group has signed an agreement with Marriott International to develop a Sheraton hotel on the Jaipur–Ajmer Highway in Jaipur. The project will feature 220 keys and is being developed with an investment of around Rs 3.5 billion across more than 300,000 sq ft.The hotel marks Manglam Group’s third collaboration with Marriott International and forms part of its Rs 10 billion hospitality investment roadmap. The agreement was signed by Amrita Gupta, Director, Manglam Group and CEO, Manglam Spa and Resorts, and Rajeev Menon, President, Asia Pacific excluding Greater China, Marriott Interna..

India Warehousing Show 2026 opens at YashoBhoomi

India's warehousing, logistics, and supply chain ecosystem came together as the 15th edition of India Warehousing Show (IWS) 2026 opened at YashoBhoomi, India International Convention & Expo Centre (IICC), Dwarka, New Delhi on June 25 (Thursday). Organised by RX India, the three-day event will run from 25-27 June 2026, bringing together policymakers, industry leaders, technology providers, and supply chain professionals under one roof. It also features a two-day knowledge conference that will run alongside the exhibition. Inaugurated by Pankaj Kumar, Joint Secretary - Logistics, DPIIT..