India–US Trade Tensions Rise Over Steel and Auto Tariffs NMDC Limited reports a 38% drop in Q4 FY24 consolidated net profit RINL to Raise $23 Million Through Land Sales Amid Crisis
India’s stainless steel industry is urging the government to impose anti-dumping duties on low-priced imports from China, Vietnam, and Indonesia. Industry leaders warn that the surge in such imports is hurting domestic manufacturers and threatening long-term sustainability.
According to the Indian Stainless Steel Development Association (ISSDA), imports reached 1.73 million tonnes in FY25, significantly impacting local producers. The association has filed a petition with the Directorate General of Trade Remedies (DGTR) to investigate and take corrective action.
Abhyuday Jindal, Managing Director of Jindal Stainless, said the industry faces unfair competition due to underpriced imports, making it essential to implement protective measures. The DGTR is expected to review the request and may begin proceedings within the next two to three months.
Industry representatives believe that introducing anti-dumping duties will help stabilize the market, protect jobs, and encourage further investment in India’s stainless steel manufacturing sector.
Also Read : Supreme Court Reserves Verdict on JSW Steel’s Resolution Plan BMW Invests ₹803 Crore to Expand High-End Steel Production in Bokaro
Steel is a deregulated sector, and the decisions related to the kind of steel produced are made by i...
Press Releases 31-Jul-2024
Copper demand linked to artificial intelligence and data centres could add up to one million metric...
Non-Ferrous 09-Apr-2024
The Income Tax Department announced on Sunday that net direct tax collection increased by more than...
Taxation 12-Feb-2024
India’s steel exports in May 2024 fell by 24% to 0.5 million tonnes (MT) from 0.66 MT in April...
Ferrous 14-Jun-2024
Tata Steel has decided to stop operating the coke ovens at its Port Talbot plant in Wales, UK. The c...
Large Corporate 19-Mar-2024
The growth momentum of the Indian economy from the first half of the current financial year is seen...
Business 20-Feb-2024