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Abhyuday Jindal, Managing Director of Jindal Stainless, has called on the Indian government to impose anti-dumping duties on stainless steel imports, citing the growing threat posed by cheap foreign goods to the domestic industry.
The appeal comes as Jindal Stainless reported strong Q1 results, with consolidated net profit rising 10.6% year-on-year to ₹715 crore and revenue up 8.2% to ₹10,207 crore. Despite this growth, Jindal expressed concern over the surge in low-cost imports, particularly from China, Indonesia, Vietnam, and South Korea, which now account for 36% of India's stainless steel consumption.
The Indian Stainless Steel Development Association has already filed a request with the Directorate General of Trade Remedies to initiate anti-dumping investigations.
Jindal Stainless aims to boost exports to 25,000 tonnes per month, but global trade tensions—especially U.S. tariff hikes—are affecting overseas demand. Still, the company remains optimistic, projecting 9–10% volume growth in the domestic market for FY25.
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