Requests by industry to stop dumping of steel, which can be made locally
Steel

Requests by industry to stop dumping of steel, which can be made locally

Nagendra Nath Sinha, Secretary, Steel, said demands are being made to stop dumping of those grades of steel, which can be produced or sourced locally and which the industry feels are witnessing more imp...

Nagendra Nath Sinha, Secretary, Steel, said demands are being made to stop dumping of those grades of steel, which can be produced or sourced locally and which the industry feels are witnessing more imports than the past. The Ministry of Finance is looking into issues surrounding dumping of certain categories of steel products into the Indian market and has assured intervention, if imports remain on the rise.The Steel Ministry has extended its support to the stand taken by Directorate General of Trade Remedies (DGTR) on the issue. He said the industry feels India's status is changing from a steel exporting country to a steel importing country, with imports outstripping exports by 0.28 million tonnes (MT) in October 2023. When asked about the second phase of the production-linked incentive for the steel sector, the secretary said it is at the discussion level. He clarified that there was major impact on the extent of scrap steel import due to EU's regulations as only 5-6 MT of scrap steel is imported while a total of 25 MT is used.

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