The country imported 9.31 million tonnes (mt) of steel in FY15.
From the Syrian civil war to the Ukrainian crisis to the terror unleashed by the dreaded Islamic State, there was no lack of news in 2014. In this five-part series, rediff.com presents a selection of the year's most enduring moments year from around the world.
'We are overweight on India, as it is one of the best in emerging markets (EMs)'
The Indian economy can grow if it is delinked from the slow growth in the West and the deceleration in China, says Ashok K Lahiri.
China has relaxed its one-child policy and further freed up markets in order to put the world's second-largest economy on a more stable footing.
'During his visit to Vietnam on September 3 -- the first visit by an Indian prime minister in 15 years -- Modi will notice the widespread anti-China sentiment in that country.'
The Sensex ended at at 27,676, lower by 210 points and the Nifty broke the psychological level of 8,400 to end at 83877 down 70 points.
Business reacted with caution to the reforms of 1991, and demanded protection from multinationals and imports. Twenty-five years later, traces of that demand can still be found, reports Bhupesh Bhandari.
Two organisations tracking tax violations and money laundering worldwide identify totally different sets of countries for lack of financial transparency.
At present, Air India offers eight first class, 35 business class and 195 economy class seats in its Boeing 777 200-LRs.
Indian companies typically have higher return on equity.
The Credit Suisse report has estimated the middle class on the basis of their wealth rather than their income, says Prachi Salve ' IndiaSpend.
Investors booked profits at higher levels with oil shares leading the decline
First, there has been a significant softening in commodity prices - most notably oil.
The decision to not attend the forum attended by 28 heads of state and 130 national delegations is a clear break from its usual policy of going along with the crowd.
'Xi Jinping got a dose of Modi's medicine inside the tent where he was being hosted on the banks of the Sabarmati river.' 'Modi reportedly told him, looking deep into his eyes: "This was not expected of your country. Can you tell me when the troops are withdrawing?".'
Thanks to rupee depreciation, India has a chance to fundamentally rework its stifled manufacturing sector.
'Let me talk about young Indian startups with their hearts in the right place and how they are proving that innovations that represent 'affordable excellence' -- breaking the myth that 'affordability' and 'excellence' cannot go together -- is indeed possible!' says Dr R A Mashelkar, the eminent scientist, in this fascinating feature.
With thousands of people receiving ransom messages from cybercriminals every day, Devangshu Dutta explains how you can defeat the hackers.
Here is the full text of the joint statement issued by India and the US.
Make in India has few advantages and some disadvatnages too.
'In the last one year, it looks like there were bad things that didn't take place, and there were good things that didn't take place,' says Rajeev Srinivasan.
Aseem Chhabra gives us the top films that enriched his year.
Pakistani Prime Minister Nawaz Sharif has cancelled his visit to WEF annual meeting after a deadly Taliban attack in his country.
South and South-West Asia could witness an economic growth of 5.3 per cent in 2015, which will be a four-year high.
China's slowing means commodity markets are no longer overheated.
Prime Minister Narendra Modi, who recently completed one year in office, has, in an exclusive interview with Smita Prakash, editor, ANI, said the opposition alleging that his government is a "suit boot ki sarkar" is definitely better and more acceptable than being labelled a "suitcase" (ki sarkar), and satirically added, that after ruling for sixty years, the Congress has suddenly remembered the poor.
'Making the railways better is a different type of a challenge.'
The expansion in equity market volumes is driven by retail speculators indulging in heavy trading of complex derivatives that are economically unproductive, say Praveen Chakravarthy and T V Somanathan.
The agreement on services, if ratified by all member countries, could prove to be a game changer for Indian professionals in education, healthcare & IT.
The most immediate cause of worry is the recent volatility in foreign exchange markets, Prime Minister Manmohan Singh tells the Assocham annual general meeting.
Images of the events that shaped the world in March.
'The government's proposal to store citizens' data including Aadhaar data under its Digital India initiative on cloud is violative of the citizens' human rights because the cloud is admittedly beyond India's jurisdiction.'
Overseas education consultant NNS Chandra shares advice on how to pick the right international education.
'Modi's promise of change during the election campaign was on the domestic front, but his first year in office focused on foreign policy beyond all expectations,' says Ambassador T P Sreenivasan.
Here's your weekly collection of stories that prove it's a crazy, funny world out there!
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