Gadchiroli pitched as Maharashtra’s future green steel hub India set to drive next global steel demand wave Italy crude steel output rises 3.1% in May Green steel progress remains slow worldwide
🔹 ICRA projects a 50% drop in steel imports if safeguard duty is imposed.
🔹 Higher tariffs and quality controls expected to support domestic steel.
🔹 Move to boost local manufacturing and reduce import reliance.
According to a report by ICRA, India’s steel imports could decline by nearly 50% in FY2025-26 if the government imposes a safeguard duty. The move aims to protect domestic manufacturers from a surge in cheaper imports, particularly from Free Trade Agreement (FTA) countries.
The safeguard duty is expected to curb inflows of lower-cost steel while stabilizing domestic prices. With demand rising in key sectors like construction and infrastructure, the measure could strengthen Indian steelmakers' market position.
Experts suggest that along with tariffs, stricter quality norms and trade policies will further reduce import dependency, benefiting the local industry. The government’s focus on self-reliance and manufacturing growth underpins this strategy.
Also Read : Forecast By Baosteel: Baosteel Sees China’s Steel Exports Holding Above 100 Mt in 2025 SC allows ArcelorMittal Nippon Steel, IOC to appoint arbitrators in Essar case
Indian steel producers have sought additional government action to rein in a surge of low-priced imp...
Construction 03-Nov-2025
The impending Ground Breaking Ceremony (GBC) on February 19 will mark a watershed event in Uttar Pra...
Announcement 13-Feb-2024
On the Multi Commodity Exchange (MCX), aluminium futures were mostly trading within the range of ₹19...
Non-Ferrous 20-Feb-2024
Tata Steel, one of India’s largest steel producers, witnessed a sharp surge in its market capi...
Business 06-Mar-2025
Turkey and the European Union have stepped up talks on the implementation of the Carbon Border...
Europe 25-Mar-2026
Auto parts manufacturer Rane (Madras) Ltd (RML) is set to establish a greenfield facility in Aguasca...
Mid Corporate 27-Jan-2024