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".

Infrastructure Energy

17 Dec 2025

Vedanta Aluminium Uses 1.57 bn Units of Green Energy in FY25

Vedanta Aluminium, India’s largest aluminium producer, recently reported consumption of 1.57 billion units of renewable energy in FY25, marking a significant milestone in its 2030 decarbonisation roadmap. The company also achieved an 8.96 per cent reduction in greenhouse gas (GHG) emissions intensity compared to FY21, reinforcing its leadership in India’s low-carbon manufacturing transition. During FY25, Vedanta Aluminium expanded its renewable energy portfolio through long-term power purchase agreements, strengthening its strategy to source nearly 1,500 MW of renewable power over the lon..

Oberoi Group to Develop Luxury Resort at Makaibari Tea Estate

EIH Limited, the flagship company of The Oberoi Group, has announced the signing of a management agreement to develop an Oberoi luxury resort at the iconic Makaibari Tea Estate in Darjeeling. The project marks a key milestone in the Group’s long-term strategy of creating distinctive hospitality experiences in rare and environmentally significant locations. Established in 1859, Makaibari is one of the world’s oldest tea estates and is globally recognised for its Himalayan landscape, primary forests and exceptional biodiversity. Spread across 1,236 acres, the estate houses one of the world�..

GHV Infra Secures Rs 1.09 Bn EPC Order in Jamshedpur

GHV Infra Projects Ltd, a fast-growing EPC company in India’s infrastructure and construction sector, has recently secured a Rs 1.09 billion work order in Jamshedpur, Jharkhand. Awarded by a reputed group entity, the contract covers end-to-end civil construction, mechanical, electrical and plumbing (MEP) systems, along with high-quality finishing works for a large building development. The project will be executed over a 30-month period, with defined benchmarks for quality, safety and timely delivery. The order strengthens GHV Infra’s footprint in Jamshedpur, a key industrial hub known fo..