The Indian steel sector, though deregulated, is shaped by market dynamics of demand and supply. To boost domestic production and reduce dependency on imports, the Government of India has implemented key policies that support steel manufacturers, including SMEs.

Key Initiatives to Reduce Steel Imports & Enhance Competitiveness Production Linked Incentive (PLI) Scheme for Specialty Steel encourages domestic manufacturing and attracts capital investments to cut imports. Steel Quality Control Orders (QCOs) ban substandard and defective steel products to ensure the supply of high-quality steel in the domestic market.

Anti-Dumping Duty (ADD) on specific steel imports, including:

Seamless tubes, pipes, and hollow profiles from China PR Electro-galvanised steel from Korea RP, Japan, Singapore Stainless steel seamless tubes & pipes from China PR Welded stainless steel pipes & tubes from Vietnam & Thailand Countervailing Duty (CVD) imposed on welded stainless steel pipes & tubes from China & Vietnam to prevent unfair pricing. Basic Customs Duty (BCD) reductions to Nil on Ferro-Nickel and Molybdenum ores & concentrates, ensuring cost-effective raw material availability for Indian steelmakers.

These measures create a conducive policy environment for the steel sector, promoting growth, competitiveness, and quality assurance while safeguarding domestic manufacturers. This information was provided by Shri Bhupathiraju Srinivasa Varma, Minister of State for Steel & Heavy Industries, in a Rajya Sabha reply today.