https://indianmasterminds.com

ADVERTISEMENT
ADVERTISEMENT

Steel Imports Surge : India Mulls 25% Safeguard Duty on Steel Imports Amid Rising Concerns

India is considering a 25% safeguard duty on certain steel imports to protect domestic producers from rising imports, particularly from China and FTA nations, which accounted for over 60% of shipments at nil duty.
Indian Masterminds Stories

The Ministry of Steel has proposed a 25% safeguard duty on specific steel products imported into India, aiming to address growing concerns from domestic steel producers about cheap imports. The proposal was discussed in a meeting on December 2 between the Steel Ministry and the Commerce Department, attended by Steel Minister and Commerce and Industry Minister Piyush Goyal. A final decision now rests with the Ministry of Finance, based on recommendations from the Commerce Ministry.

Domestic steelmakers have been vocal about the adverse impact of rising steel imports on their competitiveness. Steel Secretary Sandeep Poundrik highlighted last month that over 60% of India’s steel imports come from Free Trade Agreement (FTA) nations at zero duty, meaning a safeguard duty would not affect these shipments.

Data from research firm BigMint reveals that India’s steel imports surged to 5.51 million tonnes (MnT) during April-September 2024-25, compared to 3.66 MnT in the same period last year. Notably, imports from China jumped to 1.85 MnT from 1.02 MnT year-on-year.

Acknowledging the challenges, Poundrik affirmed the ministry’s awareness of the issue and the need for action to protect domestic producers while ensuring fair trade practices.


Indian Masterminds Stories
ADVERTISEMENT
ADVERTISEMENT
Related Stories
ADVERTISEMENT
ADVERTISEMENT
NEWS
mohan yadav
Madhya Pradesh CM Dr. Mohan Yadav Personally Visits Sailana Fields, Comforts Farmers Affected by Crop Damage
Manoj-Yadava ips
Who Is Manoj Yadava? Former Haryana DGP and Ex-RPF Chief Appointed Director General of HIPA Gurugram
Supreme Court resized
SC Collegium Recommends Three Judges for Chief Justice Posts in Patna, Meghalaya, and Manipur High Courts
Combined Commanders' Conference 2025 PM Modi
Buzz Builds Ahead of Combined Commanders' Conference 2025: PM Modi May Announce Major Defence Reforms
India launches capacity building programme
India Launches Special Capacity Building Programme for Mid-Career Civil Servants of Mauritius
supreme-court-4
Supreme Court Upholds FIR Registration Against Former CBI Joint Director Neeraj Kumar in 2000 Misconduct Case
Paramita Tripathi
IFS Paramita Tripathi Appointed India’s New Ambassador to Kuwait Amid Strengthening Bilateral Ties
coal-India-limited-scaled
Coal India Raises Ex-Gratia to ₹25 Lakh, Launches Uniform Policy and ₹1 Cr Insurance for Workers from Sept 17
ADVERTISEMENT
ADVERTISEMENT
Videos
IPS Shikha Goel
How Modern Forensics Helps Police Solve Crimes – IPS Officer Shikha Goel Explains | Video Interview
IPS Shikha Goel
Decoding Digital Dangers: Insights from IPS Shikha Goel on Cyber Crimes
IPS Mukesh Kumar Bhamoo
Managing Elections, Communal Tensions, and Public Safety – Meet IPS Mukesh Kumar Bhamoo | Video Interview
ADVERTISEMENT
UPSC Stories
Ishwarlal Gurjar UPSC
10th Grade Failure to Indian Police Service: Ishwarlal Gurjar’s UPSC Success Path
Read the inspiring journey of Ishwarlal Gurjar from a small village in Rajasthan to becoming an IPS officer....
IAS Minnu P M
“Lazy, Sleepy, Yet Determined”: Minnu P M’s Honest Take on Cracking UPSC
Minnu PM, once a clerk in Kerala Police, cleared UPSC with AIR 150 after five years of struggle. Her...
IPS Ashish Tiwari
From IIT and Investment Banking to Public Service, Meet IPS Ashish Tiwari 
Ashish Tiwari, IIT graduate and former investment banker, chose public service over global finance. As...
Social Media
IAS Medha Roopam
IAS Medha Roopam’s Inspiring Dedication in Flood-Hit Noida Goes Viral: Focuses on Relief, Education Amid Heavy Rains
Books in One Hand, Umbrella in Other: Noida DM Medha Roopam Leads Flood Relief from the Front
IAS Sakshi Sawhney Amritsar DC
Punjab Floods: IAS Sakshi Sawhney’s Emotional Appeal to Elderly Man Wins Hearts, Video of Humanity Goes Viral
Viral Video Captures Emotional Moment as Amritsar DC Shows Sensitivity and Courage Amid Relief Effor...
Masahiro Hara
From Go Board to Global Use, How QR Codes Changed the World: IRAS Officer Ananth Rupanagudi Spotlights Masahiro Hara’s Vision
IRAS officer Ananth Rupanagudi shared a video on Masahiro Hara, the inventor of QR codes, highlighting...
ADVERTISEMENT
ADVERTISEMENT
ADVERTISEMENT
Latest
mohan yadav
Madhya Pradesh CM Dr. Mohan Yadav Personally Visits Sailana Fields, Comforts Farmers Affected by Crop Damage
Manoj-Yadava ips
Who Is Manoj Yadava? Former Haryana DGP and Ex-RPF Chief Appointed Director General of HIPA Gurugram
ADVERTISEMENT
ADVERTISEMENT
ADVERTISEMENT
ADVERTISEMENT
ADVERTISEMENT
ADVERTISEMENT
ADVERTISEMENT
Videos
IPS Shikha Goel
IPS Shikha Goel
IPS Mukesh Kumar Bhamoo
ADVERTISEMENT
ADVERTISEMENT