+
Gujarat's Stainless Steel MSMEs Grapple with Chinese Dumping
Steel

Gujarat's Stainless Steel MSMEs Grapple with Chinese Dumping

In a concerning development, nearly 35% of Gujarat's stainless steel Micro, Small, and Medium Enterprises (MSMEs) had to close their doors during Q2 FY24. The surge in closures is attributed to the adverse impact of Chinese dumping on the local stainless steel industry. The Indian Stainless Steel Development Association (ISSDA) Chief highlighted the severity of the situation, shedding light on the challenges faced by these businesses. Chinese steel products flooding the market at lower prices have led to increased competition, making it difficult for local MSMEs to sustain operations. The repercussions of this economic strain are reflected in the significant number of closures witnessed in the second quarter of the fiscal year. This downturn poses a threat not only to the affected businesses but also to the broader economic landscape of Gujarat. As the MSMEs grapple with closures, there is a looming concern about the unemployment spike and the ripple effects on the local economy. The ISSDA Chief emphasized the urgency for intervention and support from the authorities to safeguard the interests of Gujarat's stainless steel MSMEs. The situation calls for strategic measures to address the challenges posed by external factors, ensuring the resilience and sustainability of these crucial components of the state's industrial fabric.

In a concerning development, nearly 35% of Gujarat's stainless steel Micro, Small, and Medium Enterprises (MSMEs) had to close their doors during Q2 FY24. The surge in closures is attributed to the adverse impact of Chinese dumping on the local stainless steel industry. The Indian Stainless Steel Development Association (ISSDA) Chief highlighted the severity of the situation, shedding light on the challenges faced by these businesses. Chinese steel products flooding the market at lower prices have led to increased competition, making it difficult for local MSMEs to sustain operations. The repercussions of this economic strain are reflected in the significant number of closures witnessed in the second quarter of the fiscal year. This downturn poses a threat not only to the affected businesses but also to the broader economic landscape of Gujarat. As the MSMEs grapple with closures, there is a looming concern about the unemployment spike and the ripple effects on the local economy. The ISSDA Chief emphasized the urgency for intervention and support from the authorities to safeguard the interests of Gujarat's stainless steel MSMEs. The situation calls for strategic measures to address the challenges posed by external factors, ensuring the resilience and sustainability of these crucial components of the state's industrial fabric.

Related Stories

Gold Stories

Next Story
Infrastructure Urban

KONE Opens India's First Digital Experience Centre in Pune

KONE, a global elevator and escalator manufacturer, has inaugurated its first Digital Experience Centre (DEC) in India, located in Pune. The facility aims to showcase how artificial intelligence (AI), connectivity and data-driven technologies can enhance customer experiences and improve building operations.The centre was inaugurated by Jussi Herlin, Executive Vice Chair, KONE Corporation; Philippe Delorme, President and CEO, KONE; and Nandan Nilekani, Co-founder and Chairman of the Board, Infosys.Designed as an interactive customer environment, the facility demonstrates digital solutions cover..

Next Story
Infrastructure Urban

CII GreenCo Launches Circularity Guidelines for Indian Industry

The Confederation of Indian Industry (CII) GreenCo Council has launched the CII GreenCo Circularity Guidelines – Pilot Version at the 17th CII GreenCo Waste & Resource Management Summit 2026 in Chennai. The initiative aims to strengthen resource efficiency, waste reduction and circular economy practices across Indian manufacturing and process industries.The guidelines introduce a structured framework with circularity indices covering raw materials, consumables, packaging and other resource inputs. These indicators will help industries assess existing practices, identify opportunities to ..

Next Story
Infrastructure Energy

Global Electronics Association Launches IPC-1783-CO2E Standard

The Global Electronics Association has introduced IPC-1783-CO2E, a new international standard aimed at improving consistency, transparency and comparability in product carbon footprint reporting across the electronics manufacturing industry.The standard, titled International Standard for Data Collection and Reporting of CO2 Equivalent (CO2e) Emissions for the Electronics Manufacturing Supply Chain, provides industry-specific guidance for collecting, estimating and reporting carbon emissions data.With increasing regulatory requirements and customer expectations, electronics manufacturers face c..

Advertisement

Subscribe to Our Newsletter

Get daily newsletters around different themes from Construction world.

STAY CONNECTED

Advertisement

SPECIAL OFFER
QR Code