New Delhi: India has become a net exporter of steel during FY 2016-17 and is on the right path to become a global player with globally competitive quality of steel, according to the Indian Steel Association (ISA). During FY 2016-17, steel imports fell 36.6 per cent to 7.427 million tonnes (MT), whereas steel exports rose 102.1 per cent to 8.244 MT, backed by the measures taken by the Government of India. Mr Sanak Mishra, Secretary General and Executive Head, ISA, stated that this trend will continue backed by new technology, equipment, automation and process control, thereby giving a boost to the domestic production. He further stated that, the figures currently are not very high and India should strive to reach 15 MT to be globally recognised. Apart from increasing production, India should also explore new markets with high imports but low production capacity.
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