Baldota's Rs 54,000 Cr plant set to boost India's steel capacity amid growing deficit

India's steel sector is at a critical juncture, with finished steel imports surging by 20% to 8.29 million tonnes in the April-January period of this fiscal year.

- TBG NETWORK

Domestic producers are struggling with narrowing profit margins and intensifying competition from foreign players. China, Japan, and South Korea accounted for 79% of these imports, with Chinese shipments alone reaching an eight-year high. This growing reliance on external markets threatens India's long-term industrial stability and calls for urgent support of capacity expansion within the country to avoid any kind of pushback that might stifle domestic growth.