India Plans To Impose 25% Tax to Curb Cheaper Chinese Steel Imports

19 Dec 2024 CW Team

India is likely to impose a safeguard duty or temporary tax of up to 25% on steel imports, industry and government sources said, to help to curb cheap imports from top producer China. The proposal gained broad support at a meeting chaired by commerce minister Piyush Goyal after small industries dropped initial opposition once they received assurances that they would not be hit by higher steel prices. "It seems the safeguard duty will be imposed after an investigation, likely completed within a month," said an industry official who attended the meeting. "To address concerns of small manufacturers, large steelmakers will supply them steel at reduced prices." India's Directorate General of Trade Remedies is investigating whether cheap imports from China have harmed domestic steelmakers. The government is likely to impose the temporary tax once the investigation is over. "MSMEs (micro, small and medium enterprises) registered with the government will receive raw materials at FOB (free on board) export prices," Pankaj Chadha, chairman of the Engineering Export Promotion Council of India (EEPC), said after the meeting. Small manufacturers, consuming about 1 million metric tons of steel annually, are expected to benefit from the arrangement, with prices about 20% lower than market rates, Chadha said. Major producers such as JSW Steel, Tata Steel and ArcelorMittal Nippon Steel India have raised concerns about cheaper imports from China. India, the world's second-biggest producer of crude steel, became a net importer of the alloy in the financial year to March 31, with imports surging to a record high during the first seven months of the current financial year. A commerce ministry spokesman declined to comment. Assurances of affordable supplies of steel to India's small industries would pave the way for imposition of temporary tax on steel imports, said a government official with the direct knowledge of the matter, noting that "a major roadblock has been removed".

Resources

09 Mar 2026

Haworth India Hosts Women’s Leadership Panel Series

Haworth India marked International Women’s Day by hosting a leadership roundtable series titled ‘Give to Gain’, bringing together senior women leaders from architecture and design firms, corporates and project management consultancies. The series has been conducted in Delhi and Mumbai, with upcoming sessions scheduled in Bengaluru and Hyderabad on 27 March 2026. Structured as moderated panel discussions followed by audience interaction, the initiative examined the business impact of women’s leadership and the role of inclusive workplaces in supporting professional growth. Manish Khan..

Max Estates Secures RERA For Max One Project

Max Estates has secured RERA approval (UPRERA No.: UPRERAPRJ9759) for its Max One development around Max Towers in Sector 16B, Noida, bringing renewed progress to a project previously stalled following the insolvency of its earlier developer. Spread across around 10 acres with an estimated development potential of about 2.5 million sq ft, Max One is planned as an integrated mixed-use campus combining serviced residences, premium offices, retail spaces and a private club. The project is expected to generate total sales potential of about Rs 20 billion along with an estimated annuity rental inc..

Hindware Introduces Starc Smart Wall Mount Toilet

Hindware has introduced the Starc Smart Wall-Mount Toilet under its Hindware Italian Collection, designed to combine automation, hygiene and contemporary bathroom aesthetics. The model features automatic flushing, sensor-based seat opening and closing, and remote-controlled functions. It also includes an oscillating water spray and warm air dryer for cleaning, along with a self-cleaning nozzle designed to maintain hygiene. Additional features include adjustable heated seating, customisable water temperature and pressure settings, a foot-touch flush system and an LCD control interface. The wa..