India's steel exports dipped 32 percent while imports increased 20.2 percent in fiscal 2015-16 as compared to the previous year, according to data released by the government.
"Export of total finished steel was down by 32 percent in 2015-16 at 3.80 million tonnes compared to the last year. Import of total finished steel at 11.20 million tonnes in 2015-16 saw a growth of 20.2 percent compared to the last year," said a report by the Joint Plant panel.
Panel is the only institution in India to have been empowered by the steel ministry to collect data on the Indian iron and steel industry.
Report added that exports in March 2016 at 0.35 million tonnes declined by 32.4 percent compared to the same month last year but grew 17.1 percent compared to February 2016.