Russia returns as India's top steel supplier after 3 years

Business Oct 28, 2025

Russia has made a comeback as one of India's top steel suppliers after three years, thanks to Western sanctions pushing Russian exports toward Asia.
This shift is happening just as India's demand for electrical steel—with Russia increasingly supplying it—is on the rise.

Russian steel is about 20% cheaper than Chinese options

In April-September 2024, Russian steel imports to India jumped by 107% compared to last year.
The big reason? Price—Russian steel is about 20% cheaper than Chinese options, making it a go-to pick for Indian buyers.
In just six months, India imported over $209 million worth of finished steel from Russia, highlighting how important this partnership has become.