India's Strategic Steel Shield: Impact of 12% Safeguard Duty

The 12 per cent safeguard duty on steel imports, introduced by the Indian government, is receiving acclaim from industry leaders as a pivotal strategy to bolster the nation's steel sector.

Addressing industry stakeholders at the India Steel Conclave 2025 in New Delhi, Sanjay Singh, Director of Strategy and External Relations at Jindal Steel, underscored the importance of this duty. Singh noted its role in shielding Indian steelmakers from the flood of inexpensive foreign steel, providing a critical buffer. "The 12 per cent safeguard duty has had a dramatic impact on the industry," Singh told ANI, citing conversations with steel sector insiders who have acknowledged the protective measure's effectiveness.

The policy is part of a broader government initiative under the 'Atmanirbhar Bharat' mission, complemented by a Production Linked Incentive (PLI) scheme for speciality steel manufacturing. Swati Agrawal, CEO of CARE Analytics and Advisory, commended the government's holistic approach, highlighting the policy's alignment with long-term industrial strategies. Previously implemented in April, the safeguard tariffs mainly target Chinese imports, establishing minimum import prices to counter low-cost goods.

(With inputs from agencies.)