Amid global glut, steel industry backs 12% safeguard duty

Total finished steel production in India stood at 145.31 mt in FY25 while consumption rose to 150.32 mt

- Subhash Narayan

India's steel industry is confident that the 12% safeguard duty recently imposed on imports of certain flat steel products will be sufficient to protect domestic producers from injury and prevent the dumping of cheaper steel, industry officials said.

Naveen Jindal, president of the Indian Steel Alliance (ISA), the apex body representing major public and private steel producers, said the duty "is sufficient for the time being" but left open the possibility of approaching the government for adjustments if global steel prices fall further and cheaper imports enter India.

"We would have liked the duty protection to be around 25%, but if in their wisdom the Directorate General of Trade Remedies (DGTR) has recommended 12%, that is sufficient," Jindal told reporters on the sidelines of the India Steel Conclave organized by the ISA. He added that the industry would return to the government if import challenges arise in the future.