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GTRI report
November 4 , 2024
12 hrs 0 min
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- The Global Trade Research Initiative (GTRI) said that India's power sector is facing a 30 per cent shortage of CRGO steel, essential for electric motors and transformers.
- The Shortage of Cold-Rolled Grain-Oriented (CRGO) steel was used for making transformers and electric motors could impact India's ambitious power sector expansion plans.
- With domestic production meeting only about 10-12 per cent of demand, India relies heavily on imports.
- In FY 2024, India, one of the largest consumers of CRGO steel, required 400,000 tonnes.
- With only 50,000 tonnes produced domestically, it had to import 239.2 thousand tonnes from countries like China, Japan, Russia and South Korea.
- After exporting 11.4 thousand tonnes, only 277.8 thousand tonnes were available for local use, leaving a shortfall of 122.2 thousand tonnes.
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