India Considers 'Safeguard Duty' to Control Steel Imports

03 Dec 2024 CW Team

India is exploring the implementation of safeguard duties to curb the influx of steel at low or zero tariffs under the free trade agreement (FTA) with the ASEAN region. This move comes as Chinese companies expand their steel manufacturing capacities in ASEAN countries. Discussions are underway between the steel and commerce ministries, ahead of the next India-ASEAN FTA review talks scheduled for February. Industry experts report that Chinese firms are adding approximately 97 million tonnes (mt) of blast furnace-basic oxygen furnace (BF-BOF) capacity in ASEAN, expected to be operational within the next 5-6 years. With annual steel consumption in ASEAN at around 75 mt, there are concerns that the surplus production could be redirected to India due to the tariff advantages under the India-ASEAN FTA. “Discussions are ongoing, and measures like imposing a safeguard duty are being considered,” a senior government official said. Alok Sahay, Secretary General of the Indian Steel Association, noted that the influx of 97 mt of new BF-BOF capacity in ASEAN countries poses a threat to Indian steel producers. “Given the current FTA and the limited growth in ASEAN’s consumption, these new capacities are mainly for export. India’s low-to-zero tariffs make it an attractive market compared to the EU or the US,” Sahay added. The South East Asia Iron and Steel Institute (SEASI) projects that the region's steel production capacity will reach 145 mt by 2026. Praful Venugopal, CEO of Mittal Steel Indonesia, mentioned that Chinese producers have signed agreements with Indonesia to set up plants that will contribute an additional 20 mt of capacity. Indonesia’s steel consumption is around 17 mt, and these new plants are designed to supply exports. The anticipated oversupply from ASEAN could lead to depressed domestic steel prices in India, where production in FY24 was 139 mt, just slightly above consumption of 136 mt. (ET)

Infrastructure Energy

14 Oct 2025

Mizoram To Build Rs 139 Billion Pumped Storage Power Plant

Mizoram Chief Minister Lalduhoma on Friday announced plans to construct a 2,400 MW pumped storage hydroelectric power plant in Hnahthial district, marking a major step towards achieving energy self-sufficiency in the state. Addressing the Mizo Students’ Union general conference in Hnahthial town, the Chief Minister said the plant would be developed across the Darzo Nallah, a tributary of the Tuipui river. Once operational, the project is expected to play a pivotal role in meeting Mizoram’s rising electricity demand and reducing dependence on imported power. Officials from the State Power..

Centre Plans Nationwide Opening Of Power Retail Market

India is preparing to open up its retail electricity market to private companies nationwide, effectively ending the long-standing monopoly of state-run power distributors in most regions, according to a draft bill released by the Union Power Ministry on Friday. The move will enable major private sector players — including Adani Enterprises, Tata Power, Torrent Power, and CESC — to expand their presence across the country’s electricity distribution landscape. A similar reform attempt in 2022 had faced strong opposition from state-run distribution companies (discoms), which currently dom..

CEA Sets 100 GW Nuclear Target For India By 2047

In a landmark step marking its 52nd Foundation Day, the Central Electricity Authority (CEA) unveiled an ambitious roadmap to develop 100 gigawatts (GW) of nuclear power capacity by 2047, aligning with India’s long-term Net-Zero commitment and energy security objectives. The event, held at the Central Water Commission auditorium in New Delhi’s R.K. Puram, was attended by Pankaj Agarwal, Secretary, Ministry of Power, who served as the Chief Guest. The roadmap sets out a detailed plan to expand India’s nuclear capacity from its current level of approximately 8,180 MW as of early 2025, outl..