Indian Steel Industry Seeks Anti-Dumping Relief Amid Import Surge
Domestic stainless steel producers, led by ISSDA, plan to request the Commerce Ministry for anti-dumping duties against cheap imports from countries like China and Vietnam. These imports challenge local industry competitiveness. ISSDA will soon file an application with DGTR to investigate and address the issue.
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- India
The Indian stainless steel industry is rallying to address concerns over an influx of cheap imports that threaten local competitiveness. Leaders in the sector, represented by the Indian Stainless Steel Development Association (ISSDA), are preparing to approach the Commerce Ministry for the imposition of anti-dumping duties.
Acting on behalf of domestic manufacturers, ISSDA plans to file a formal application with the Directorate General of Trade Remedies (DGTR) in the coming weeks. Abhyuday Jindal, Managing Director of Jindal Stainless, confirmed this strategic move during a post-earnings call. Jindal emphasized that the data itself reveals the disparity, with imports arriving at unsustainable low prices.
Highlighting the competitive pressure, Jindal pointed to significant increases in imports from countries like China and Vietnam. Market data indicates a substantial rise in imports, with China contributing a 7% year-on-year increase in FY25, and Vietnam's numbers showing even sharper surges. This trend underscores ongoing challenges and the necessity for regulatory intervention to protect India's steel industry.
(With inputs from agencies.)
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