India Levies 12% Safeguard Duty to Prevent Cheap Steel Imports, Promotes Fair Play

India's Steel Secretary has reiterating the government's intent on a level playing field for Indian producers, proclaiming a categorical 12% safeguard duty on certain steel imports. To run for 200 days, this provisional duty focuses on non-alloy and alloy flat products such as hot-rolled coils, sheets, and plates. The decision comes after a steep rise in steel imports—in the form mainly of China, South Korea, and Japan, which collectively held 78% of India's steel imports during FY25 and took finished steel imports to nine-year high level of 9.5 million metric tonnes.

 

The Directorate General of Trade Remedies determined that the surge in cheap imports was inflicting "serious injury" on Indian producers, necessitating immediate action. The duty targets imports at below fixed levels, with the purpose of safeguarding local industry and ensuring level playing field competition. Industry associations have received the move positively, terming it a key for market steadiness and for India's vision to increase steel capacity to 300 million tonnes by 2030.

 

Source: Indian Express, Economic Times, Reuters