The Ministry of Steel has recommended a 25 percent safeguard levy on some steel imports to protect India’s domestic sector from unfair competition, which was discussed during a meeting of key ministries with steel executives.

The Ministry of Steel has taken an important step towards addressing the concerns of India’s indigenous steel industry by proposing a 25 percent safeguard levy on the entry of specified steel products into the nation. This issue was addressed during a high-level meeting in New Delhi between Union Minister of Steel H.D. Kumaraswamy and Commerce and Industry Minister Piyush Goyal. The idea seeks to shield Indian steel manufacturers from the negative effects of lower-cost imports while providing a level playing field for domestic producers. The safeguard tariff is meant to prevent the dumping of low-cost steel from overseas markets, which can reduce domestic industries’ competitiveness.

Senior officials from both ministries, as well as executives from India’s largest steel corporations, such as Steel Authority of India Limited (SAIL), Tata Steel, JSW Steel, and AMNS India, attended the conference. These companies, which are critical to India’s steel manufacturing, are facing rising competition from imported steel products, which may jeopardise their market share and profitability. The proposed safeguard duty is viewed as a way to boost the domestic steel sector, encourage production, and protect jobs in the industry. The government’s action is part of a larger campaign to help important industrial sectors amid mounting concerns over trade imbalances.