Indian rating agency ICRA recently estimated that India's steel exports will increase in the fiscal year 2022 (April 1, 2021 to March 31, 2022). One of the main factors is China's restrictions on crude steel production and steel exports.

The restriction of crude steel production in China has increased the quantity of semi-finished steel exported from India to China.

On the other hand, the reduction of steel exports from China is conducive to the export of more steel from India. For example, Southeast Asia and West Asia are important steel export markets for China and India.