Rising Imports Challenge Local Steel

23 Jul 2024 CW Team

Acharya emphasized that the steel industry in India is facing intense pressure due to these imports, which are often priced lower than domestically produced steel. This price disparity is making it difficult for local producers to compete, potentially leading to reduced market share and financial stress for domestic companies. The situation is further exacerbated by the global economic slowdown, which has led to decreased demand and increased volatility in the steel market.

The JSW Steel CEO called for a comprehensive review of trade policies to protect the interests of the domestic steel industry. He suggested that measures such as anti-dumping duties and safeguards should be considered to curb the influx of low-priced imports. These measures would help level the playing field for local steelmakers, allowing them to compete more effectively and sustain their operations.

Despite these challenges, Acharya expressed optimism about the future of the Indian steel industry. He pointed to the government's focus on infrastructure development and manufacturing as key drivers of steel demand. However, he stressed that supportive trade policies and strategic initiatives are essential to ensure the industry's long-term growth and stability.

In conclusion, the rising steel imports pose a significant challenge to local steelmakers in India, threatening their competitiveness and market position. Addressing this issue requires a multifaceted approach, including reviewing trade policies and implementing protective measures. With the right support, the Indian steel industry can navigate these challenges and continue to contribute to the country's economic growth.

The influx of steel imports is presenting significant challenges for local steelmakers in India, according to Jayant Acharya, CEO of JSW Steel. Acharya highlighted that rising imports, particularly from countries with surplus production capacity, are undermining the competitiveness of domestic steel producers. This trend is creating a challenging environment for local steelmakers who are already dealing with fluctuating market dynamics and rising production costs. Acharya emphasized that the steel industry in India is facing intense pressure due to these imports, which are often priced lower than domestically produced steel. This price disparity is making it difficult for local producers to compete, potentially leading to reduced market share and financial stress for domestic companies. The situation is further exacerbated by the global economic slowdown, which has led to decreased demand and increased volatility in the steel market. The JSW Steel CEO called for a comprehensive review of trade policies to protect the interests of the domestic steel industry. He suggested that measures such as anti-dumping duties and safeguards should be considered to curb the influx of low-priced imports. These measures would help level the playing field for local steelmakers, allowing them to compete more effectively and sustain their operations. Despite these challenges, Acharya expressed optimism about the future of the Indian steel industry. He pointed to the government's focus on infrastructure development and manufacturing as key drivers of steel demand. However, he stressed that supportive trade policies and strategic initiatives are essential to ensure the industry's long-term growth and stability. In conclusion, the rising steel imports pose a significant challenge to local steelmakers in India, threatening their competitiveness and market position. Addressing this issue requires a multifaceted approach, including reviewing trade policies and implementing protective measures. With the right support, the Indian steel industry can navigate these challenges and continue to contribute to the country's economic growth.

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..

Infrastructure Energy

14 Oct 2025

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..

Infrastructure Energy

14 Oct 2025

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..