India Projects 1 Billion USD Steel Exports to UK

The Government of India projects its steel exports to the United Kingdom will reach 1 billion USD in FY27. This growth follows the acquisition of improved steel quotas negotiated under a broader India-UK trade agreement designed to reduce tariffs and ease market access for labor-intensive industries such as engineering goods, textiles, leather, and jewelry.

A senior government official noted that the negotiated quota is approximately 350 million USD, an increase over historical export levels of about 200 million USD. The agreement also provides India with access to a residual quota, which is intended to help Indian producers remain competitive despite the United Kingdom's strict safeguard regime for imports.

These provisions are part of a strategic effort to diversify India's export basket and strengthen bilateral economic ties with the United Kingdom.