Forecast: Import of Hot-Rolled Iron or Non-Alloy Steel in Coils, of a Width of 600 mm or More, Thickness Less Than 3 mm and Minimum Yield Point Not Exceeding 275 Mpa to India

In 2023, the actual value for India's imports of hot-rolled iron or non-alloy steel in coils of specified dimensions was unavailable, but projections indicate a steady increase starting from $590.18 million in 2024 to $648.75 million by 2028. The forecasted data shows year-on-year growth rates, reflecting a rising demand trajectory: 2.56% in 2025, 2.44% in 2026, 2.34% in 2027, and 2.24% in 2028. Over the forecasted period, the compound annual growth rate (CAGR) is approximately 2.40%, highlighting a consistent upward trend.

Future trends to watch include:

• Global steel market fluctuations which may impact import costs.
• India's domestic steel production capabilities which may affect import reliance.
• Policy changes in trade tariffs and international relations impacting steel imports.
• Technological advancements enhancing steel production efficiency and quality.