India Plans 12% Import Duty on Steel to Shield Domestic Industry

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India Plans 12% Import Duty on Steel to Shield Domestic Industry

Business 22 Mar 2025 10:27 AM IST SB Team

✅ 12% import duty proposal to protect India’s steel industry.
✅ Prices may increase as import volumes decline.
✅ Domestic manufacturers to benefit from reduced competition and stable demand.
India is considering imposing a 12% import duty on select steel products to safeguard domestic manufacturers from rising foreign competition. This move comes amid growing concerns over increasing steel imports, which have been pressuring local producers and impacting pricing stability.

Government’s Protective Measures

The proposed temporary import duty aims to level the playing field for Indian steelmakers by discouraging excessive imports. Additionally, the government is expected to introduce quality control measures and stricter regulations to ensure that imported steel meets domestic standards.

Impact on Steel Prices & Industry

Market experts predict that steel prices could rise in the short term due to reduced supply from imports. However, industry stakeholders believe the move will strengthen domestic production, improve profitability for Indian manufacturers, and support long-term market stability.

Also Read : China Slaps 34% Tariff on US Goods in Escalating Trade War BMW Industries partners with Steel Ministry to boost specialty steel production.

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