steel industry protection – Bharat Pulse News

In a decisive move to shield its domestic steel industry from a surge of inexpensive imports, India has imposed a 12% safeguard duty on select steel products. Effective from April 21, 2025, this provisional measure will remain in place for 200 days, aiming to curb the influx of low-cost steel primarily from China, South Korea, and Japan. The Directorate General of Trade Remedies (DGTR) initiated an investigation in December 2024 following complaints from the Indian Steel Association. The probe revealed a significant increase in imports of non-alloy and alloy steel flat products, which are integral to industries such as construction, automotive, and manufacturing. This surge has adversely impacted domestic producers, leading to reduced operations and potential job losses, especially among small and medium-sized enterprises. India, the world's second-largest crude steel producer, reported finished steel imports reaching a nine-year high of 9.5 million metric tons in the 2024/25 fiscal year. The safeguard duty is expected to provide immediate relief to domestic manufacturers by restoring fair competition and stabilizing market conditions. Industry leaders, including JSW Steel, Tata Steel, the Steel Authority of India (SAIL), and ArcelorMittal Nippon Steel India, have expressed support for the government's intervention. Analysts anticipate that this measure could lead to a 50% reduction in steel imports in the upcoming fiscal year, enhancing capacity utilization and profitability for local producers. While the safeguard duty aims to protect domestic interests, stakeholders emphasize the importance of balancing such measures to avoid unintended consequences on downstream industries and maintain India's competitiveness in the global market. Steel Industry Protection The imposition of the safeguard duty underscores India's commitment to protecting its steel industry from unfair trade practices. By addressing the challenges posed by surging imports, the government seeks to ensure the sustainability and growth of domestic steel manufacturers. India Steel Imports The recent spike in steel imports has raised concerns about the long-term viability of India's steel sector. The safeguard duty serves as a strategic response to mitigate the adverse effects of cheap imports and reinforce the country's industrial base. Safeguard Duty Steel The 12% safeguard duty represents a proactive approach to trade regulation, aiming to balance the interests of domestic producers with the dynamics of international trade. This measure reflects India's broader strategy to foster a resilient and self-reliant manufacturing ecosystem.

India Imposes 12% Safeguard Duty on Steel Imports

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