India's Steel Ministry Backs Import Tax
Steel

India's Steel Ministry Backs Import Tax

India's Steel Ministry is reportedly advocating for the imposition of a temporary tax on steel imports to protect the domestic industry from a recent surge in foreign steel entering the market. The ministry's proposal aims to safeguard local steelmakers from the price volatility and competitive pressures posed by imported steel, which could destabilize the industry. The proposed tax would act as a short-term measure to stabilize the market and ensure a level playing field for domestic producers.

This move comes in response to concerns raised by industry stakeholders about the increasing volume of steel imports, which they argue undermines local production and disrupts the supply chain. The tax would help mitigate the impact of low-priced imports, particularly from countries like China, which have been flooding the global market with cheaper steel products. By introducing this measure, the ministry seeks to support local steelmakers in maintaining competitive pricing and profitability.

India’s domestic steel industry has faced significant challenges due to fluctuating global steel prices, and the government’s intervention is seen as crucial to protecting the sector from further disruptions. The ministry's stance reflects broader efforts to bolster domestic manufacturing and reduce dependency on foreign imports. Additionally, the move aligns with India's goals of promoting self-reliance and strengthening its industrial base in key sectors like steel.

If implemented, the temporary tax could offer much-needed relief to local steelmakers, helping them navigate the current market dynamics and maintain stability amid global uncertainties. However, the proposal is still under discussion and awaits approval from the government, as officials weigh the potential impact on trade relations and domestic demand.

India's Steel Ministry is reportedly advocating for the imposition of a temporary tax on steel imports to protect the domestic industry from a recent surge in foreign steel entering the market. The ministry's proposal aims to safeguard local steelmakers from the price volatility and competitive pressures posed by imported steel, which could destabilize the industry. The proposed tax would act as a short-term measure to stabilize the market and ensure a level playing field for domestic producers. This move comes in response to concerns raised by industry stakeholders about the increasing volume of steel imports, which they argue undermines local production and disrupts the supply chain. The tax would help mitigate the impact of low-priced imports, particularly from countries like China, which have been flooding the global market with cheaper steel products. By introducing this measure, the ministry seeks to support local steelmakers in maintaining competitive pricing and profitability. India’s domestic steel industry has faced significant challenges due to fluctuating global steel prices, and the government’s intervention is seen as crucial to protecting the sector from further disruptions. The ministry's stance reflects broader efforts to bolster domestic manufacturing and reduce dependency on foreign imports. Additionally, the move aligns with India's goals of promoting self-reliance and strengthening its industrial base in key sectors like steel. If implemented, the temporary tax could offer much-needed relief to local steelmakers, helping them navigate the current market dynamics and maintain stability amid global uncertainties. However, the proposal is still under discussion and awaits approval from the government, as officials weigh the potential impact on trade relations and domestic demand.

Next Story
Infrastructure Urban

DDA Approves Rs 87.2 Billion Budget for 2025-26

The Delhi Development Authority (DDA) has approved a budget of Rs 87.2 billion for the financial year 2025-26, with a strong emphasis on civic infrastructure development, green space rejuvenation, housing, and sports facilities, according to an official statement. Chaired by Lieutenant Governor V.K. Saxena, the budget meeting highlighted several large-scale projects, including the revitalisation of the Yamuna floodplain, creation of expansive parks, and upgraded civic amenities. Out of the total outlay, Rs 41.4 billion has been earmarked for capital expenditure, covering new roads, infrastruc..

Next Story
Infrastructure Energy

Vi Taps Cisco to Power Next-Gen Network

Telecom operator Vodafone Idea (Vi) has joined hands with US-based tech major Cisco Systems to revamp its transport network infrastructure across India. The strategic partnership aims to enhance network performance, scalability, and user experience for both retail and enterprise customers. As part of the agreement, Vi will deploy Cisco’s advanced Multiprotocol Label Switching (MPLS) technology to create a high-capacity, software-driven transport network. This will significantly improve the telecom player’s ability to manage surging data traffic and support data-heavy digital services such..

Next Story
Building Material

GPT Infra Commissions New Steel Girder Plant Near Kolkata

GPT Infraprojects announced the successful commissioning of its steel girder and components manufacturing facility in West Bengal on April 24, 2025. Located in Village Majinan, Hooghly district—about 60 km from Kolkata—the plant begins operations with an initial capacity of 10,000 metric tonnes per annum (MTPA). The company stated that the facility is in the process of securing RDSO (Research Designs and Standards Organisation) approval for manufacturing steel bridge girders. Once approved, this unit is expected to become a key asset for the company’s steel bridge segment, catering to c..

Advertisement

Advertisement

Subscribe to Our Newsletter

Get daily newsletters around different themes from Construction world.

STAY CONNECTED

Advertisement

Advertisement

Advertisement

Advertisement

Talk to us?