Domestic steel industry needs to be on guard as countries exporting to the US may divert shipments to India after the imposition of tariffs, an industry official said on Saturday.
With the tariffs announced by the US on steel and aluminium imports, countries sending shipments to America might dump products in India because of huge domestic demand, Jindal Steel and Power Ltd (JSPL) chairman Naveen Jindal said the Global Business Summit (GBS) here.
“So, for that, Indian steel industry would have to be protected from unfair exports happening into India,” he cautioned.
US President Donald Trump has announced 25 per cent tariff on all steel and aluminium imports. Jindal said the Indian Steel Association has already filed application with the DGTR in this regard which is reviewing it.
Indian steel makers have been consistently raising the issue of dumping of steel into Indian market from select group of countries which has impacted their competitiveness.
The industry executive further said that he is hopeful of a positive decision soon.
As per official data, India’s exports have shrunk 28.9 per cent to 3.99 million tonnes during the April-January period of FY25, compared to 5.61 million tonnes in the corresponding period of the preceding fiscal.
The country remained a net importer of steel with the inbound shipments rising over 20 per cent to 8.29 million tonnes during the April-January period of the current fiscal.