South Korea has overtaken China as the largest exporter of steel products to
India in the first quarter of 201617 after trailing the latter for last two fiscals, Parliament was
informed today.
Korea exported 5.11 lakh tonnes of steel to India, which is marginally higher than that exported by China at 5.10 LT, during the AprilJune
quarter in 201617, showed data presented by Minister of State for Steel Vishnu Deo Sai in a written reply to Rajya Sabha.
China was followed by Japan at 3 LT and Russia at 1.70 LT, it added.
As per the data presented in the Upper House, together the four countries accounted for more than threefourths of the steel (14.18 LT)
exported to India during the quarter under review. India imported a total of 18.32 LT of the metal in the first quarter this fiscal.
In 201516, China exported 41.25 LT of steel followed by Korea (30.07 LT), Japan (21.60 LT) and Russia (3.64 LT).
Similarly, China again was the top exporter in 201415 with an outbound shipment of 36 LT, which was followed by Korea (18.75 LT),
Japan (15.83 LT) and Russia (2.26 LT).
Likewise, the People's Republic was the top exporter in 201214 fiscal at 10.88 LT followed by Japan at 13.56 LT, Korea (13.13 LT) and
Russia (1.46 LT), the data showed.
In a separate query on government's plans to set up steel plants, the Minister said government is not considering to set up steel plants.
Steel being a deregulated sector, the role of government is limited to that of a facilitator only for growth of steel industry in the country, Sai
added.
"Decision relating to setting up of steel plants etc are, therefore, the sole decision of individual steel manufacturer based on various factors
including commercial considerations and market dynamics," the Minister said.
Source:ET