NEW DELHI: India’s stainless steel imports surged 49 per cent to 5.5 lakh tonnes (lt) in the last financial year, Parliament was informed today. India, the world’s third largest steel producer, had imported 3.7 lt of stainless steel in 2013-14, showed data presented by Minister of State for Steel Vishnu Deo Sai in the Rajya Sabha.
In value terms, imports of the metal rose by 23 per cent to $5,918.9 crore in 2014-15, as against $4,801.9 crore in 2013-14, the data showed. “Domestic steel manufacturers and other stakeholders have been representing against the surge in imports of steel,” Sai told the Upper House.
To ensure only quality steel is imported, the government has notified Steel and Steel Product (Quality Control) Order dated March 12, 2012 and subsequent order on December 4, 2014, he added.
