Inspire of phenomenal progress in iron and steel production India has to fulfils a part of its needs of iron and steel especially quality steel through import shows the quantity and value of imported steel since 1960-61 onward. India Imported 13.25 lakh tones of iron and steel valued at Rs. 123 crores in 1960-61 which rose to 32.29 lakh tones valued at Rs.11.678 crores in 2004-2005. Bulk of this import comes from Russia, Japan, Germany, Britain, United States, Belgium etc.
Besides India also exports some quantity of iron and steel (about 4.8 million tons in 2003-04) to Malaysia, Bangladesh, Iran, Myanmar, Kuwait, Sri Lanka, Nepal and Mexico.