The Central Government has imposed a twelve per cent safeguard duty for 200 days on five categories of imported steel products following a recommendation by the Directorate General of Trade Remedies (DGTR). The move aims to protect domestic producers from a significant surge in imports.

The duty will apply to imports priced below USD 675 to USD 964 per tonne for product categories including hot rolled coils, plates, cold rolled coils, and coated and colour-coated sheets. Imports at or above these prices will be exempt. The DGTR investigation began in December last year following complaints by the Indian Steel Association, representing major producers like JSW Steel, Steel Authority of India Limited, and ArcelorMittal Nippon Steel India. It found a sudden increase in imports—from 2.293 million tonnes in 2021–22 to 6.612 MnT between October 2023 and September 2024.

Welcoming the decision, Union Steel Minister H.D. Kumaraswamy said it would provide relief to small and medium enterprises. Indian Steel Association President Naveen Jindal called the duty a vital step towards market stability and self-reliance. However, MSME exporters and industry bodies like the Federation of Indian Export Organisations (FIEO) have criticised the move, warning it will raise input costs and reduce the global competitiveness of Indian products.

Source: PTI