Modi’s Make In India Future is Dependent on Chinese Steel Imports

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Coiled steel for import

India’s steel consumption is expected to grow at its fastest pace in five years next year on Prime Minister Narendra Modi’s infrastructure push, but a scarcity of raw materials means it will be at the expense of another of his key goal – curbing imports.

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In his triumphant election campaign, Modi criticized the last government for exporting iron ore but importing steel. But his first five months as the prime minister has coincided with a surge in imports of both, denting his high-decibel drive to make India an export powerhouse.

 

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