India is a net exporter of steel in fiscal year 2017 and 2018. For two consecutive years, India may become a net importer of steel. 

From April to July of  fiscal year 2020, India imported more steel than it exported. According to data from CARE rating agencies, India imported 1 million tons more steel than it exported in April-July this year; exports in the same period were 1.5 million tons, down 23.4% from a year earlier; while imports were 2.5 million tons.

The Global trade situation is tense, and the European Union has implemented a series of safeguards on steel imports, reducing India's steel exports to the European Union. Italy, Belgium and Spain accounted for 5-12% of India's total steel exports in fiscal year 2019. 

In fiscal year 2019, India imported 3.1 million tons, 1.8 million tons and 1.2 million tons of steel from Korea, China and Japan respectively; steel exports in the same period were 8.4 million tons, down 28.2% from a year earlier, and imports increased by 6.8%.