New Delhi3 hours ago
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The body of New Delhi's leading steel makers expressed concern over the import and demanded to curb.
India has announced a 12% temporary tariff on some steel products to prevent unbridled imports. The Ministry of Finance has issued a notification on Monday (April 21) and informed about this.
India, the second largest producer of crude steel i.e. raw steel in the world, said that the tariff will be effective from Monday to 200 days, until it is removed or changed. This Temporary Tariff is known as Safeguard Duty.
Increase in steel tariff India's first major trade policy
In April, US President Donald Trump imposed a variety of tariffs on many countries. After this, the increase in India's steel tariff is its first major trade policy.
According to reports, India's tariffs mainly target China. China was the second largest exporter for India after South Korea in 2024–25.
India was the net importer of finished steel for the second consecutive year
According to government data, India has been a net importer of Finished Steel for the second consecutive year in FY 2024-25, whose shipment reached 9.5 million metric tons of 9 years.
Steel makers expressed concern over import and demanded to curb
The body of New Delhi's leading steel makers expressed concern over the import and demanded to curb. The members of which include JSW Steel, Tata Steel as well as Steel Authority of India and Arcelor Mittal Nippon Steel India.
