Maharashtra clears 937 hectares for Gadchiroli steel expansion Steel stock surges 29% in just two days Steel output rises 14% to 9.25 MT Infrastructure boom fuels India’s steel consumption
According to Rajamani Krishnamurti, President of the Indian Stainless Steel Development Association (ISSDA), almost 30-35% of Gujarat's medium- and small-sized enterprises closed their doors between July and September of last year due to the heavy influx of cheaper Chinese imports, which is directly affecting Indian stainless steel players. In the MSMEs sector, Gujarat accounts for 80% of the total. Due to pressure on domestic stainless steel companies' profit margins from cheaper Chinese imports, the sector filed a petition last year asking the government to impose countervailing tax (CVD) on Chinese stainless steel products.
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