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✅ India plans relief measures to shield steel firms from US tariffs.
✅ Tariffs could cut Indian steel exports to the US by 30%.
✅ Industry looks to alternative markets for export stability.
New Delhi: The Indian government is considering steps to protect domestic steel producers from the impact of the recent US tariffs on steel imports. According to officials, the Ministry of Steel is exploring relief measures, including possible tax incentives and trade adjustments, to support exporters.
The US imposed 25% tariffs on steel imports, raising concerns about reduced competitiveness for Indian steelmakers in the global market. Industry experts estimate that the tariffs could reduce Indian steel exports to the US by up to 30% this year.
A senior government official stated, "We are assessing the situation closely and will take appropriate measures to protect our steel industry from unfair trade barriers."
The Indian Steel Association (ISA) has urged the government to negotiate with US authorities and provide export incentives to offset the impact. Meanwhile, steel manufacturers are focusing on alternative markets in Europe and Southeast Asia to mitigate losses.
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