{"id":1290497,"date":"2025-02-08T10:13:24","date_gmt":"2025-02-08T04:43:24","guid":{"rendered":"https:\/\/trak.in\/stories\/?p=1290497"},"modified":"2025-02-08T10:13:56","modified_gmt":"2025-02-08T04:43:56","slug":"steel-industry-asks-govt-for-safegaurd-duties-to-fight-cheap-imports","status":"publish","type":"post","link":"https:\/\/trak.in\/stories\/steel-industry-asks-govt-for-safegaurd-duties-to-fight-cheap-imports\/","title":{"rendered":"Steel Industry Asks Govt For ‘Safegaurd Duties’ To Fight Cheap Imports"},"content":{"rendered":"\n

Leaders in the industry stress that in order to guarantee fair competition for domestic manufacturers, policy enablers are necessary.<\/p>\n\n\n\n

\"\"<\/figure>\n\n\n\n

In order to combat unfairly priced imports and encourage capital expenditure (capex) investments in the steel industry, safeguard duties are crucial, according to Kaushik Chatterjee, the executive director and chief financial officer of Tata Steel, and Jayant Acharya, the deputy MD of JSW Steel.<\/p>\n\n\n\n

Policy Enables Necessary For Fair Competition: Indian Steel Industry Leaders<\/strong> <\/p>\n\n\n\n

With \u20b911 lakh crore spent on infrastructure last year, mostly from public investment, India’s capital expenditure push is still strong.<\/p>\n\n\n\n

Chatterjee emphasizes that effective policies are necessary for the steel industry to preserve competitiveness and ensure returns on capital due to its global exposure. <\/p>\n\n\n\n

He stated, \u201cI think India is on a multi-decadal path from a growth perspective\u2026 we had about \u20b911 lakh crore spending on infra, and obviously public spending is a big part of the push. So I think\u2026 at least from a heavy capex perspective, there are opportunities to grow, but the environment, especially because in a company or an industry like steel, it’s a globally exposed industry\u2026 we just need to ensure that the enablers, from a policy point of view, do not expose us to unfairly priced imports.\u201d<\/p>\n\n\n\n

Despite sectoral weaknesses in domestic demand, there is still a lot of optimism about the infrastructure and automotive sectors’ recovery.<\/p>\n\n\n\n

Global Trade and Pricing Impacted By China\u2019s Steel Export Volumes<\/strong><\/p>\n\n\n\n

Global trade and pricing have been impacted by China’s steel export volumes, which have increased from the typical 60\u201370 million tonnes (MT) to over 110 MT.<\/p>\n\n\n\n

India’s response will be critical in determining the stability of policy for capital expenditures as more than 30 nations look into China’s steel exports.<\/p>\n\n\n\n

Acharya reaffirms worries that, despite robust domestic demand, trade flows from China and Free Trade Agreement (FTA) nations could upset India’s market.<\/p>\n\n\n\n

Significant investments are being made because the steel industry anticipates an annual incremental demand of about 15 MT. As per Acharya, \u201cThe Indian demand, as Kaushik rightly said, is really good on the medium term\u2026 I think India is going to see a very good story. So the steel industry has a large opportunity.
<\/p>\n\n\n\n

Although the government has kept the budget at \u20b911 lakh crore with a 10\u201317% increase, Acharya admits that while the budget is good for consumption, the capital expenditures could have been better.<\/p>\n","protected":false},"excerpt":{"rendered":"

Leaders in the industry stress that in order to guarantee fair competition for domestic manufacturers, policy enablers are necessary. In order to combat unfairly priced imports and encourage capital expenditure (capex) investments in the steel industry, safeguard duties are crucial, according to Kaushik Chatterjee, the executive director and chief financial officer of Tata Steel, and […]<\/p>\n","protected":false},"author":25,"featured_media":1290503,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21],"tags":[7067],"class_list":["post-1290497","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-business","tag-steel-industry"],"acf":[],"yoast_head":"\nSteel Industry Asks Govt For 'Safegaurd Duties' To Fight Cheap Imports - Trak.in - Indian Business of Tech, Mobile & Startups<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/trak.in\/stories\/steel-industry-asks-govt-for-safegaurd-duties-to-fight-cheap-imports\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Steel Industry Asks Govt For 'Safegaurd Duties' To Fight Cheap Imports - Trak.in - Indian Business of Tech, Mobile & Startups\" \/>\n<meta property=\"og:description\" content=\"Leaders in the industry stress that in order to guarantee fair competition for domestic manufacturers, policy enablers are necessary. 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