Which among the following is not an attribution to India becoming net steel importer in 20...........

Economic Affairs Foreign Trade - Trends and Policy

Which among the following is not an attribution to India becoming net steel importer in 2018-19 from the net exporter?

India's crude steel production has declined for 3 year consecutively.

India is losing market share among its traditional steel buyers with China and Japan.

increase in imports of higher-quality steel domestically.

Protectionist measures of US and EU has diverted international exports of steel into India.

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Explanation:

India’s crude steel production in 2018 was at 106.5 MT, up by 4.9 per cent from 101.5 MT in 2017, meaning India has replaced Japan as the world’s second largest steel producing country. so, option A is incorrect.

For the first time in three years, India was the net importer of steel during the financial year 2018-19. This was attributed to India losing market share among its traditional steel buyers and an increase in imports of higher-quality steel domestically.

India’s exports during the fiscal year 2018-19 declined after rival steelmakers in China, Japan, South Korea and Indonesia who were blocked from markets in the United States and Europe by tariffs and other protectionist measures, ate away at the India’s markets in the Middle East and Africa. Imports from the China, Japan, South Korea and Indonesia also increased as they diverted supply into India after the tariff and other protectionist measures in the US and EU.