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
Tata Steel CEO & Managing Director T.V. Narendran has said that the recent U.S. move to double tariffs on Indian Imports up to 50% will have little to no impact on India’s domestic steel sector.
Narendran clarified that India exports negligible steel products to the US, hence domestic producers remain unaffected. However, Tata Steel’s European Operations, which belongs to the U.S. market, could feel some pressure.
While the steel industry is largely unaffected, analysts warn that other export-dependent sectors like textiles, gems and jewellery, marine products, and MSMEs may be hit hard by the tariff hike. Brokerage firm Nomura has already cut India’s FY26 GDP growth forecast to 6% citing weaker export prospects.
Despite global trade tensions, Narendran remains optimistic about the steel sector’s outlook, pointing to robust domestic demand from infrastructure, construction, and manufacturing as key growth drivers.
Also Read : India’s Steel Imports Fall 29% as Tariffs and Output Rise New Proposal: GOI working to impose 30% export tax on low-grade iron ore
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