Govt Enforces ‘Melt and Pour’ Rule for All Steel in Public Projects Nippon Steel expected to finalize U.S. Steel acquisition at $55 per share NMDC Limited reports a 38% drop in Q4 FY24 consolidated net profit RINL to Raise $23 Million Through Land Sales Amid Crisis
✅ Govt imposes import curbs to boost domestic steel production.
✅ Higher tariffs & quality norms to reduce import dependency.
✅ Strengthened steel industry to support India's self-reliance goals.
The Indian government has implemented stricter import regulations to curb the influx of foreign steel, aiming to strengthen the domestic steel industry. This move is part of the country’s broader strategy to enhance self-reliance, promote local manufacturing, and reduce dependency on imports.
The new measures include higher tariffs, stringent quality controls, and restrictions on specific steel categories that are readily available domestically. Experts believe these steps will create a more level playing field for Indian steelmakers, allowing them to compete effectively without market distortion caused by cheaper imports.
With rising demand from infrastructure, construction, and automotive sectors, India’s steel industry is poised for growth. The government’s decision aligns with its push for "Make in India" and Atmanirbhar Bharat, ensuring long-term sustainability and competitiveness in the global market.
Also Read : Rivals Rio Tinto, BHP tie up in Australian 'green iron' Steel exports up 30% month-on-month, 43% YoY in January
The US Securities and Exchange Commission (SEC) is making changes to its corporate climate risk rule...
US 23-Feb-2024
The China Steel Logistics Committee (CSLC), a division of the China Federation of Logistics and Purc...
China 31-May-2024
Battery maker Eveready Industries India reported a 55% jump in third-quarter profit on Tuesday, help...
Raw Material 06-Feb-2024
Nippon Steel Assures Operational Freedom Despite U.S. Oversight in U.S. Steel Deal Nippon Steel has...
US 19-Jun-2025
Ukraine’s rolled steel production increased by 6.6% year-on-year in February 2025, signaling r...
Business 10-Mar-2025
Tata Steel might invest more in its Port Talbot plant in the UK if the government provides additiona...
Large Corporate 01-Feb-2024