Steel Ministry Seeks Measures to Curb Rising Imports
Steel

Steel Ministry Seeks Measures to Curb Rising Imports

India's Steel Ministry is in discussions with the Finance Ministry to implement policy measures aimed at reducing the influx of steel imports. This initiative is part of a broader effort to protect the domestic steel industry from the impact of rising foreign competition.

The surge in imports has been attributed to the global oversupply of steel and competitive pricing by international producers, which has put pressure on Indian manufacturers. The ministry is exploring various strategies, including tariff adjustments and stricter quality standards, to mitigate the effects on local players.

The domestic steel industry is crucial to India's economy, providing jobs and contributing significantly to GDP. However, the influx of cheaper imports threatens the industry's growth and profitability, prompting calls for government intervention.

One potential measure under consideration is the imposition of safeguard duties, which would temporarily restrict imports deemed to cause harm to the local market. Additionally, enhancing anti-dumping duties could deter unfair pricing practices by foreign exporters.

Industry stakeholders are advocating for these protective measures to ensure a level playing field for Indian companies. The ministry is also considering promoting the use of domestically produced steel in government projects to boost demand.

While the talks are ongoing, the Steel Ministry remains committed to supporting the industry through strategic policy changes. These efforts aim to foster a sustainable and competitive domestic market, safeguarding it against the challenges posed by international competition.

India's Steel Ministry is in discussions with the Finance Ministry to implement policy measures aimed at reducing the influx of steel imports. This initiative is part of a broader effort to protect the domestic steel industry from the impact of rising foreign competition. The surge in imports has been attributed to the global oversupply of steel and competitive pricing by international producers, which has put pressure on Indian manufacturers. The ministry is exploring various strategies, including tariff adjustments and stricter quality standards, to mitigate the effects on local players. The domestic steel industry is crucial to India's economy, providing jobs and contributing significantly to GDP. However, the influx of cheaper imports threatens the industry's growth and profitability, prompting calls for government intervention. One potential measure under consideration is the imposition of safeguard duties, which would temporarily restrict imports deemed to cause harm to the local market. Additionally, enhancing anti-dumping duties could deter unfair pricing practices by foreign exporters. Industry stakeholders are advocating for these protective measures to ensure a level playing field for Indian companies. The ministry is also considering promoting the use of domestically produced steel in government projects to boost demand. While the talks are ongoing, the Steel Ministry remains committed to supporting the industry through strategic policy changes. These efforts aim to foster a sustainable and competitive domestic market, safeguarding it against the challenges posed by international competition.

Next Story
Infrastructure Transport

BLR Airport crosses 41 million passengers, 500,000 MT cargo

Kempegowda International Airport, Bengaluru (BLR Airport), has recorded key operational milestones in FY 2024-25, crossing 41.88 million passengers and handling 502,480 metric tonnes of cargo. This marks a year-on-year passenger growth of 11.6 per cent and a 14 per cent rise in cargo volumes.Domestic footfall reached 36.05 million, up 10 per cent, while international traffic saw a robust 25 per cent jump to 5.83 million, aided by Indigo’s global expansion and added frequencies by international carriers. BLR Airport now connects to 76 domestic and 33 international destinations, with Hanoi set..

Next Story
Equipment

JK Tyre opens Truck Wheels Centre in Muzaffarnagar

JK Tyre & Industries has expanded its retail footprint with the launch of a new JK Tyre Truck Wheels Centre in Muzaffarnagar, Uttar Pradesh. Operated by Hemkunt Transport Company, the facility is located strategically on the Muzaffarnagar-Bhopa State Highway and spans 7,500 square feet.The brand shop offers a complete range of services for commercial vehicles, including tyre sales, fittings, servicing, and a product display to guide customer choices. It is equipped with trained technical advisors, an information kiosk, and JK Tyre’s range of Smart and Fuel Efficient tyres.“In key trans..

Next Story
Products

World Health Day: Merino pushes wellness with FABWood innovation

On World Health Day, Merino Industries highlighted the importance of health-first materials in interior spaces with its advanced chipboard solution, FABWood. Designed to promote indoor well-being, FABWood uses E1-grade chipboard that significantly reduces formaldehyde emissions—addressing key concerns about indoor air quality and safety.FABWood is built with Merino’s proprietary ChipWeave Technology, delivering strength, impact resistance, and screw-holding power—making it ideal for furniture, panelling, and structural applications. The product blends durability with sustainable innovati..

Advertisement

Advertisement

Subscribe to Our Newsletter

Get daily newsletters around different themes from Construction world.

STAY CONNECTED

Advertisement

Advertisement

Advertisement

Advertisement

Talk to us?