Russia has re-emerged as one of India’s top five sources of finished steel imports after a hiatus of about three years, according to recent government data. Russia accounted for approximately 127,800 tonnes of finished-steel imports by India in the six-month period to September, making it the country’s fourth-largest supplier in that segment.
Notably, imports of speciality steel from Russia were around 50,300 tonnes — nearly 40 per cent of the total finished-steel volume imported from Russia in that period. While China remains the largest supplier by volume in finished steel, the strong resurgence of Russian shipments signals a meaningful shift in India’s import-landscape.
Industry analysts point out that Western sanctions have redirected Russian export flows towards Asia, enabling Russia to offer more competitive pricing and gain traction in markets such as India. Russian steel exports entering India are reportedly at discounts of up to 20 per cent compared with Chinese offerings, which has helped India buyers secure attractive deals.
The renewed presence of Russia in India’s import line-up carries several implications for the domestic steel industry. First, it intensifies competitive pressure on Indian producers, particularly in specialty steel segments where margins and value-added opportunities are higher. Second, it triggers fresh questions around trade-remedy mechanisms, such as safeguard duties and quality checks, given that some of the lower-priced imports may undercut local manufacturing. Third, the trend highlights a changing supply-chain geography: India is increasingly sourcing from alternative geographies beyond the traditional Asian steel exporters.
For steel-industry participants and B2B stakeholders, the development underscores the need to monitor import trends, evaluate how value-added producers can differentiate, and track how policy responses evolve. As India continues to expand its steel output and downstream capabilities, the influx of competitive imports will shape strategic decision-making around production, pricing and export focus.
