Jindal Calls for Duty Shield Against Steel Imports

Jindal Stainless Chairman Ratan Jindal has made a fervent appeal to the Indian government to implement protective duties against the rising tide of stainless steel imports from nations such as China and Vietnam. Speaking at the Global Stainless Steel Summit held in Mumbai, Jindal addressed the critical issues facing the Indian steel industry.

According to Jindal, the influx of low-cost imports is adversely affecting various Indian industries, notably MSMEs. He emphasized the need for a level playing field as countries with surplus production leverage free trade agreements to channel excess stainless steel into India. Jindal stressed that a supportive policy environment is crucial for ramping up domestic production.

Jindal underscored that India's installed capacity for stainless steel is significantly underutilized at 60%, in part due to the competitive pressure from abroad. He advocated for a distinct policy to foster the domestic stainless steel sector and uphold the 'Make in India' initiative. The Director of JSL, Vijay Sharma, announced plans for an investigation into the matter by the Directorate General of Trade Remedies.

(With inputs from agencies.)