Indian GST amendment brings up steel consumption
19 Apr 2019 16:50 reported by Sammi Lin
It was reported that after government revised the goods and services tax (GST) policy for the industry, Indian steel consumption grew by about 7%.
JSW Steel said that the Indian steel industry has brought 27 million tons of extra production. Indian consumption grew the most among other countries in the world. The government also kept pushing its steel industry to manufacture more premium quality steel.
However, the Indian steel imports increased but its exports dropped significantly by 16% during March 2019. It would be a concern to the government for figuring out to face the dumping issue and protect its domestic industry.
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