Steel Ministry Seeks Measures to Curb Rising Imports
Steel

Steel Ministry Seeks Measures to Curb Rising Imports

India's Steel Ministry is in discussions with the Finance Ministry to implement policy measures aimed at reducing the influx of steel imports. This initiative is part of a broader effort to protect the domestic steel industry from the impact of rising foreign competition.

The surge in imports has been attributed to the global oversupply of steel and competitive pricing by international producers, which has put pressure on Indian manufacturers. The ministry is exploring various strategies, including tariff adjustments and stricter quality standards, to mitigate the effects on local players.

The domestic steel industry is crucial to India's economy, providing jobs and contributing significantly to GDP. However, the influx of cheaper imports threatens the industry's growth and profitability, prompting calls for government intervention.

One potential measure under consideration is the imposition of safeguard duties, which would temporarily restrict imports deemed to cause harm to the local market. Additionally, enhancing anti-dumping duties could deter unfair pricing practices by foreign exporters.

Industry stakeholders are advocating for these protective measures to ensure a level playing field for Indian companies. The ministry is also considering promoting the use of domestically produced steel in government projects to boost demand.

While the talks are ongoing, the Steel Ministry remains committed to supporting the industry through strategic policy changes. These efforts aim to foster a sustainable and competitive domestic market, safeguarding it against the challenges posed by international competition.

India's Steel Ministry is in discussions with the Finance Ministry to implement policy measures aimed at reducing the influx of steel imports. This initiative is part of a broader effort to protect the domestic steel industry from the impact of rising foreign competition. The surge in imports has been attributed to the global oversupply of steel and competitive pricing by international producers, which has put pressure on Indian manufacturers. The ministry is exploring various strategies, including tariff adjustments and stricter quality standards, to mitigate the effects on local players. The domestic steel industry is crucial to India's economy, providing jobs and contributing significantly to GDP. However, the influx of cheaper imports threatens the industry's growth and profitability, prompting calls for government intervention. One potential measure under consideration is the imposition of safeguard duties, which would temporarily restrict imports deemed to cause harm to the local market. Additionally, enhancing anti-dumping duties could deter unfair pricing practices by foreign exporters. Industry stakeholders are advocating for these protective measures to ensure a level playing field for Indian companies. The ministry is also considering promoting the use of domestically produced steel in government projects to boost demand. While the talks are ongoing, the Steel Ministry remains committed to supporting the industry through strategic policy changes. These efforts aim to foster a sustainable and competitive domestic market, safeguarding it against the challenges posed by international competition.

Related Stories

Gold Stories

Next Story
Products

Koemmerling opens Navi Mumbai experience centre

Koemmerling, a brand of the profine Group, has expanded its presence in the Mumbai metropolitan region with the opening of a new experience centre in Navi Mumbai and launched its Allure S46 minimal sliding door system for the Indian market.Located in CBD Belapur, the facility was inaugurated by Peter Mrosik, Owner and CEO, profine Group, along with Farid Khan, Chairman and Managing Director, profine India, and Kamal Bajaj, CEO, profine India.The company said the new centre will showcase its portfolio of uPVC and aluminium window and door systems to architects, developers and homeowners.The ina..

Next Story
Products

India's waterproofing market nears Rs 150 bn milestone

India's waterproofing industry is approaching a market size of Rs 150 billion and is expected to surpass the $2 billion milestone, according to speakers at the 2nd India International Waterproofers Conference & Expo 2026 organised by the Waterproofers Association of India (WAI) in New Delhi.The two-day event brought together more than 20 speakers, 55 international delegates and 53 exhibition booths, with discussions focusing on climate-resilient construction, advanced waterproofing technologies and international collaboration.Inaugurating the event, Durga Shanker Mishra, former Secretary, ..

Next Story
Real Estate

Dilip Buildcon Q1 FY27 Revenue at Rs 23.78 billion

Dilip Buildcon Limited reported consolidated revenue from operations of Rs 2,378 crore in Q1 FY27, along with EBITDA of Rs 429 crore and profit after tax of Rs 128 crore.Consolidated EBITDA margin stood at 18.1%, improving from 17.1% in Q4 FY26. On a standalone basis, revenue from operations was Rs 1,930 crore, EBITDA stood at Rs 199 crore and PAT was Rs 39 crore, with an EBITDA margin of 10.3%.The company’s order book stood at Rs 27,691 crore as of 30 June 2026, compared with Rs 28,830 crore as of 31 March 2026. Roads and highways accounted for 17.1% of the order book, irrigation and water ..

Advertisement

Subscribe to Our Newsletter

Get daily newsletters around different themes from Construction world.

STAY CONNECTED

Advertisement

Advertisement

Advertisement