India to turn exporter of Steel: Survey

NEW DELHI: Steel imports may be a thing of past, as the domestic industry is set to add around 30 million tonnes (mt) capacity over the next 18 months, making the country self-reliant and putting it in net exporters' league, says an IDFC Securities survey.

The proposed capacity addition would outstrip cumulative 9.5 mt demand growth and net import substitution of around 5 mt over the next one and a half years, the survey said.

Steel export from India is likely to be around 5 mt in FY13.