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.

Next Story
Infrastructure Transport

Mumbai-Ahmedabad Bullet Train Set to Launch by 2028

India’s first bullet train is set to revolutionize high-speed travel along the western corridor, with the Mumbai-Ahmedabad high-speed rail project aiming for a 2028 launch. This announcement marks a major milestone in India’s infrastructure goals, as it promises to reduce travel time between the two economic hubs from eight hours to just three.Spanning a planned 508-kilometre stretch, the corridor stands as a flagship example of Indo-Japanese collaboration in technology and engineering. Once operational, the train is expected to transform intercity mobility and place India among the select..

Next Story
Infrastructure Transport

Mumbai-Gandhinagar Train Service Enhances Passenger Capacity

The Mumbai Central–Gandhinagar Capital Vande Bharat Express has increased its passenger capacity by adding four additional AC chair car coaches to meet the growing commuter demand on one of India’s busiest business corridors. This upgrade, effective from 11 May, raised the train’s seating capacity from 1,128 to 1,440 passengers, allowing it to serve 936 more passengers daily in both directions. The increase was described as a practical measure to accommodate the surging demand on the busy Mumbai–Ahmedabad–Gandhinagar route, which regularly operates at over 150 percent seat occupancy...

Next Story
Infrastructure Urban

Delhi Plans 12 Sewage Plants to Clean Najafgarh Drain Efficiently

Delhi’s ambitious plan to improve the water quality of the Yamuna River has gained significant momentum as the Delhi Jal Board (DJB) has begun work on 12 new sewage treatment plants (STPs) aimed at reducing the volume of untreated sewage being discharged from the Najafgarh Drain.This initiative forms part of the ongoing efforts to clean the Yamuna and restore the river’s health, which has long been a critical environmental issue for the national capital. Given the alarming pollution levels in the Yamuna, experts and officials consider this project a vital step toward addressing the persist..

Advertisement

Advertisement

Subscribe to Our Newsletter

Get daily newsletters around different themes from Construction world.

STAY CONNECTED

Advertisement

Advertisement

Advertisement

Advertisement

Talk to us?