India reclaimed net steel exporter status in October 2025 as exports jumped 44.8% year-on-year to 640,000 metric tons while imports fell 55.6% to 459,000 metric tons. This shift resulted from government budget financing delays for construction projects creating domestic oversupply. Manufacturers redirected two-thirds of exports, primarily long-length products, toward European Union, Persian Gulf, & Southeast Asian markets already experiencing competitive pressures. Meanwhile, automotive sector demand surged following tax reforms reducing GST rates from 28% to 18%, achieving historic passenger car sales of 557,000 units in October. Construction equipment sales plummeted 30% year-on-year reflecting widespread payment delays from government authorities.