Steel Industry's Struggle Against Rising Imports
Steel makers in India are urging the government for additional measures to curb rising imports of steel, particularly from China. Despite a high domestic capacity, imports continue to affect local production, leading to reduced capacity utilization. The government has taken steps, but industry leaders stress the need for more comprehensive policies.
- Country:
- India
In a bid to protect the domestic steel industry from surging imports, steel makers in India are calling on the government to implement stronger measures. The situation has been aggravated by China's production of 746.3 million tonnes of crude steel from January to September, which overshadows India's output.
Despite installed capacity, the Indian steel industry is operating at just 60%, largely due to the influx of imported steel, including from Korea, Russia, and Indonesia. The government has already introduced over 100 quality control orders to ensure only BIS-compliant products enter the Indian market.
The Reserve Bank of India has highlighted the need for policy support to boost domestic competitiveness. Meanwhile, India continues to be a net importer, with imports increasing over the past months, leading to a high-level discussion planned with industry leaders to address these concerns.
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