Shielding India's Stainless Steel: A Call for Protectionist Policies
Jindal Stainless MD Abhyuday Jindal calls for protective measures against cheap stainless steel imports, asserting that India's production capacity can meet domestic demand. He cites global adoption of such measures, emphasizes protection of local interests, and suggests a National Stainless Steel policy to enhance industry growth.
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- India
In a pressing call for action, Jindal Stainless Managing Director Abhyuday Jindal has urged for protectionist measures to curb the influx of inexpensive stainless steel imports. Speaking at an Indian Chamber of Commerce event, Jindal stressed that India's steel production capacity is sufficient to cater to local demands.
Highlighting similar trends globally, he pointed out that countries like the US, Europe, and even those with minimal steel production, such as Middle Eastern nations and Canada, are also adopting protective policies. Jindal lauded the Indian government's efforts to safeguard the domestic steel industry.
He noted that substandard materials from China, often routed through countries like Vietnam, are a concern. Jindal advocated for a distinct National Stainless Steel policy, emphasizing that with the right policy environment, India's stainless steel sector can significantly ramp up its current 60% utilization of the 7.5 MT installed capacity.
(With inputs from agencies.)
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