 "Naveen Jindal")
The proposed safeguard duty of 12 per cent on the import of certain steel products is sufficient and the industry will approach the government again if it faces import-related challenges in future, industry leader Naveen Jindal said on Monday.
The Directorate General of Trade Remedies (DGTR) has recommended final imposition of a safeguard duty on imports of certain flat steel products for three years to protect domestic manufacturers from a sudden jump in inbound shipments.
The duty was recommended by the DGTR in its final findings of a probe initiated on a complaint by the Indian Steel Association.
"We would have liked it to be 25 per cent (safeguard duty). But if in their wisdom, they (DGTR) have recommended 12 per cent...that is sufficient," Jindal told reporters on the sidelines of ISA Steel Conclave 2025 here.
When asked if the 12 per cent duty is enough compared to countries like the US, which has imposed tariffs as high as 50 per cent, Jindal said DGTR looks at what kind of injury is happening to the industry before reaching any conclusion.
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"We respect that and if there is a problem, then we will again take it up. If we cannot do with it, we will again take it up with the government, with the right authorities," Jindal, who is the President of the Indian Steel Association (ISA), said.
He also mentioned that global prices are currently affected due to exports from various countries to the US having stopped in light of the tariffs.
"All the steel that was being exported to the US has stopped now, right, and they are looking for other markets. That also is the reason for international prices to be depressed," Jindal said.
Speaking further, he said that the domestic steel demand is expected to grow in double digits in FY26.
The demand has been impacted due to flooding in many parts of the country after heavy rains. However, it is expected to pick up from next month and close in double digits this year.
(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)
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