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
✅ India plans measures to shield steel firms from US tariffs.
✅ Export incentives and trade talks under consideration.
✅ Industry seeks market diversification to reduce dependency on the US.
The Indian government is evaluating potential measures to protect domestic steel manufacturers from the impact of US tariffs on steel and aluminum. The US recently reaffirmed a 25% tariff on steel imports, raising concerns about reduced export opportunities for Indian steelmakers.
Government officials are considering export incentives and trade negotiations to shield the domestic industry from potential losses. Industry leaders have urged the government to secure exemptions for Indian steel products and explore alternative markets to offset the decline in US-bound shipments.
"India's steel exports to the US are relatively small, but the tariffs could disrupt trade dynamics and impact profitability," said an industry executive. The government is expected to announce a formal response after evaluating the impact on the steel sector.
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