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The absence of a mandatory Quality Control Order (QCO) for stainless steel is delaying fresh capital expenditure in the sector and fuelling low-quality imports, according to Abhyuday Jindal, Managing Director of Jindal Stainless. The government has recently extended the exemption of stainless steel products from QCO compliance and also left stainless steel out of new anti-dumping duties imposed on imports from Vietnam.
Jindal stated that without QCO, cheaper material lacking robust testing and R&D is entering the Indian market, particularly in segments like pipes, tubes and utensils. This, he warned, is weakening market sentiment, compressing margins and prompting domestic manufacturers to defer or scale down investment plans. Stainless steel imports already account for roughly 25% of India’s consumption, with a significant share coming from China and Vietnam.
To counter what it terms “definite injury” from dumped and subsidised material, the Indian Stainless Steel Development Association (ISSDA) has filed an anti-dumping petition covering mainly cold-rolled stainless steel imports from China, Vietnam and Indonesia. Jindal expressed hope that relief from the ongoing investigation would come within a year, stressing that timely policy support is crucial to protect MSME manufacturers and sustain employment in the stainless steel value chain.
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