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The sharp decline was driven mainly by lower demand from China and an increase in domestic steel production

Steel companies oppose this step

A surge in cheap imports led to a decline in the market share of local steelmakers

Steel products produced with CO2 emissions of less than 2.2 tons per ton of rolled steel will be considered green

Production in India grew by 7% year-on-year

Import volumes increased amid fluctuations in global commodity prices and lower domestic supplies

Emissions from Indian steel reach 2.6 tons of CO2 per ton of finished product, which is 25% more than in China

Deliveries increased by 35.4% y/y.

The Ministry of Steel proposes to introduce a corresponding duty on certain steel products

Without adequate domestic capacity, the country will be dependent on imports for infrastructure development

The country plans to reach 300 million tons of steel output by the specified deadline

This will take place amid an increase in steel production in the country