India Imposes 12% Safeguard Duty on Steel Imports: What It Means for the Steel Industry
There is a paradigm shift in the steel sector in India after the government announced a 12% safeguard import duty on selected flat steel products out of alloy and non-alloy categories for 200 days. The April 2025 announcement of the move is aimed at protecting domestic manufacturers from a flood of low-cost steel imports, chiefly from China and Vietnam. It will help restore competition in the market. Why the Import Duty on Steel Was Imposed India has finally become a net steel importer in the last two years, with imports spiking to 9.5 Mt, a nine-year high in 2024-25. Local producers, especially small and medium enterprises, have been under enormous pressure following cheaper imported steel that lowered domestic prices to record lows in years. The Indian Steel Association, in an outcry with other industry stakeholders, cried for an emergency response in the face of the “serious injury threat” that came with the sudden import boom. In December 2024, the Directorate General of Trad...