NEW DELHI (Reuters) – India’s finished steel exports fell more than a third in the 2018/19 fiscal year after the United States and Europe, the world’s two biggest buyers of the alloy, imposed safeguard duties in the past one year.

Finished steel exports between April 2018 and March 2019 fell 34 percent from the previous year to 6.36 million tonnes. Finished steel imports by India, the world’s fastest growing market, rose 4.7 percent to 7.84 million tonnes, leaving India as a net importer, preliminary government data showed on Friday.