In 2023, India imported Iron and Non-Alloy Steel in Ingots amounting to 19.878 million kilograms. Forecasts indicate a gradual growth in imports, with figures rising from 19.878 million kilograms in 2024 to 22.248 million kilograms by 2028. The year-on-year growth from 2024 to 2025 is estimated at around 3.08%, while subsequent years show similar incremental increases. Over the five-year forecast period, the compound annual growth rate (CAGR) stands at approximately 2.89%.
Future trends to watch for include potential impact from domestic production policies, changes in global steel prices, and technological advancements in steel manufacturing that may influence India’s import needs. Environmental regulations might also affect the supply chain and demand dynamics.
