India’s steel imports reached a five-year high in the first nine months of the fiscal year to the end of March, making the country a net importer of completed steel.

The surge in economic activity and infrastructure overhaul has been a positive factor for steel producers, with India’s demand for steel declining in Europe and the US.

Between April and December, India imported 5.6 million metric tons of completed steel, a 26.4% increase from the same period last year.

The steel industry has demanded government actions and protections against soaring imports, but the federal Ministry of Steel has rejected proposals due to robust local demand.