[Nepal steel exports to India fall 62.43% as India's safeguard measures bite]

Published: Oct 08, 2026 10:13 (GMT+8)

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Nepal's steel exports to India fell 62.43% y-o-y in the last fiscal year, cutting export earnings by over 10 billion Nepalese rupees (about 75 million USD) and deepening concern among local producers about market access. The curbs were not aimed at Nepal: India's safeguard measures respond to a broad surge in steel imports and pressure on its domestic industry, and apply to other international suppliers too; standards, certification and origin checks are part of the same framework. India remains Nepal's largest trading partner: bilateral merchandise trade reached about 9.38 billion USD in FY2025-26, and India takes over 80% of Nepal's goods exports and more than 60% of its external goods trade. The India-Nepal Treaty of Trade grants preferential treatment to Nepali industrial products, recognising the landlocked economy's need for dependable market access. Talks are under way through bilateral and regulatory channels.

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