The share of countries like China and Vietnam in India’s 4.84 LMT steel import basket during June 2023 has increased on a year-on-year (y-o-y) basis, as per reports. The Steel Ministry at 4.84 lakh metric tonne (LMT), India’s overall steel import registered a 5.9 per cent increase on a month-on-month (m-o-m) basis and 7.6 per cent over June 2022. Share of China, Japan,Vietnam, Saudi Arabia, Russia, Nepal and the USA increased in total steel imports of India in June ’23 as compared to June 22. In June 2022, the import from China was 26.1 per cent and Vietnam was one per cent. However, in June 2023, the import from China contributed 37.1 per cent and Vietnam’s share was 4.8 per cent in India’s steel import basket.The development assumes significance as India has set an ambitious target to increase its steel-making capacity to 300 million tonne and Indian players eyeing for a significant share in the global steel markets.