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
JSW Steel’s CEO backs safeguard tariffs as essential for market balance.
Tariffs are seen as a protective measure for the Indian steel industry.
The move supports the government's vision of boosting domestic manufacturing.
In a recent statement, Seshagiri Rao, Joint Managing Director and Group CFO of JSW Steel, highlighted the positive impact of safeguard steel tariffs on controlling imports and protecting India’s domestic steel industry. According to Rao, the new tariffs are a crucial move for reducing the surge of cheap imports and ensuring the stability of the Indian steel market.
India has been grappling with increasing imports of steel, especially from countries like China and South Korea, which has affected the pricing and competitiveness of domestic manufacturers. The safeguard tariffs aim to level the playing field, providing Indian steel producers with the necessary protection against unfair trade practices and market distortions.
JSW Steel has long advocated for measures that support local industries and prevent flooding the market with imported goods at unsustainable prices. Rao mentioned that these tariffs are expected to encourage fair competition and boost the growth of the domestic steel industry.
With the government taking proactive steps to ensure the sustainability of local businesses, this tariff move is seen as a significant step in strengthening the country’s manufacturing sector and increasing self-reliance.
Also Read : Tata Steel, BEML, MRF Among Key Stocks Revealing Q3 Results Today Steel Ministry Ramps Up Efforts to Boost Domestic Scrap Supply Amid Global Export Curbs
Bengal saw a 12% increase in steel production in FY2024, trailing slightly below the national averag...
Ferrous 22-Apr-2024
State-owned Bharat Heavy Electrical Ltd (BHEL) announced that mainly as a result of higher expenses,...
Mid Corporate 22-May-2024
At the Steel Conclave 2025, industry leaders and policymakers highlighted the growing role of artifi...
India 08-Sep-2025
Visakhapatnam Steel Plant to Restart Blast Furnace-3 by June-End The Visakhapatnam Steel Plant (VSP...
Announcement 16-Jun-2025
Copper futures on Monday fell 95 paise to ₹721.10 per kilogram as participants cut their positions a...
Non-Ferrous 05-Feb-2024
The major ports in India saw a notable improvement in performance in FY24. They were able to cut the...
Logistics 02-May-2024