India’s Steel Secretary stated that coking coal imports are set to rise, stressing the need to diversify sourcing. He also cautioned that Europe’s carbon tax and tariff quotas will continue to challenge Indian steel exports, urging proactive measures to safeguard competitiveness in global markets.
Rising Imports:
India’s reliance on coking coal imports is expected to increase, prompting calls to diversify suppliers to reduce dependency risks.
Export Challenges:
With Europe’s carbon tax and tariff quotas, Indian steel exports face mounting hurdles, potentially impacting revenue streams.
Strategic Action Needed:
The Steel Secretary emphasized that India must take corrective measures, including exploring alternative markets and investing in cleaner technologies.
Industry Context:
India, the world’s second-largest steel producer, is heavily dependent on imported coking coal. Global climate policies are reshaping trade dynamics, making diversification and sustainability critical.
Why It Matters
The statement underscores India’s dual challenge of securing raw material supply and protecting export competitiveness. Rising import dependence and stricter European climate policies could reshape India’s steel trade strategy, pushing the industry toward diversification and greener production methods.
Sources: Business Standard, Economic Times, Mint