India was a net importer of finished steel during the financial year that ended in March, provisional government data reviewed by Reuters showed on Tuesday.The world’s second-biggest crude steel producer imported 9.5 million metric tons of finished steel during April-March, up 14.6% from a year before, the data showed.

India’s finished steel exports stood at 4.9 million metric tons in the period, down 35.1%, the data showed, making it a net steel importer for a second straight year.

New Delhi will detail country-wise trade numbers later in the month.
India has recommended a temporary 12% tax on some steel products for 200 days, known locally as a safeguard duty, in a bid to curb imports, the government said last month.

Source: Economic Times