Strengthening Steel: India's 12% Safeguard Duty Impact
A 12% safeguard duty on steel imports bolsters India's domestic industry, shielding it from low-cost foreign competition. Leaders at India Steel Conclave 2025 laud the move, highlighting its role in fostering self-reliance and industry growth, alongside the transformative PLI scheme for speciality steel manufacturing.
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The 12% safeguard duty on steel imports is being praised as a strategic enhancement for India's steel industry, offering a substantial shield against cheaper foreign imports, particularly from China.
At the India Steel Conclave 2025, industry authorities, including Sanjay Singh from Jindal Steel, applauded the government initiative for protecting local manufacturers and boosting the domestic production landscape. Singh emphasized that this measure, alongside the PLI scheme's support for specialty manufacturing, aligns with India's self-reliance vision.
Swati Agrawal of CARE Analytics commended the government's policy coherence, underscoring the tariff's importance in coping with foreign influxes and securing long-term sectoral growth. Initially set in April, the tariffs aim to manage imports primarily from China and South Korea by enforcing minimum price standards.
(With inputs from agencies.)
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