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Key Points

The India Steel Conclave 2025 saw industry leaders applaud the 12% safeguard duty on steel imports as a game-changer for domestic manufacturers. Jindal Steel's Sanjay Singh emphasized how the duty protects against cheap foreign steel while praising the PLI scheme's role in boosting specialty steel production. Government policies received strong endorsement from analysts like Swati Agrawal for creating a supportive ecosystem. The safeguard measures specifically target Chinese imports that fall below minimum price benchmarks set by Indian authorities.

Key Points: India Steel Conclave 2025 Hails 12% Safeguard Duty Boost

  • Experts credit 12% duty for shielding domestic steel industry
  • PLI scheme driving specialty steel production growth
  • 65% of India's steel consumed by infrastructure sector
  • Safeguard tariffs target Chinese imports below set price thresholds
3 min read

India Steel Conclave 2025: Industry Experts hail 12% safeguard duty tax, says will boost domestic industry

Industry leaders praise 12% safeguard duty on steel imports at India Steel Conclave 2025, citing domestic industry protection and PLI scheme benefits.

"The 12% safeguard duty has provided a good cushion against cheap imports - Sanjay Singh, Jindal Steel"

New Delhi, July 25

The 12 per cent safeguard duty imposed on steel imports has been hailed as a strategic move which will significantly strengthen the domestic steel industry, according to industry leaders.

Industry Gathering and Key Highlights

Industry experts gathered at the India Steel Conclave 2025 held in the national capital on Friday. Sanjay Singh, Director of Strategy and External Relations at Jindal Steel, highlighted the crucial role the safeguard duty has played in insulating Indian manufacturers from the influx of low-cost steel from foreign markets.

Impact of Safeguard Duty

"I mean, 12 per cent of safeguard duty which has been imposed by the Government, that is having a tremendous impact. I have spoken to people in the steel sector, they have given their views that it has provided them with a good cushion against any kind of imports from cheaper economies. It has had a very positive impact," Singh stated while talking exclusively with ANI.

Potential of the PLI Scheme

He also highlighted the transformative potential of the PLI scheme for speciality steel manufacturing. "It has a tremendous impact. It is based on our Prime Minister's thought of 'Atmanirbhar Bharat.' A lot of such steel products, which were not manufactured in India, are now being produced here. Of course, some time gap is required for the creation of infrastructure. Phase one of the PLI was rolled out in 2022. Phase 2 is also being rolled out, with a particular focus on steel products that are expected to experience immense demand soon," Singh said.

Steel Consumption in India

About 65 per cent of steel produced in India is consumed by infrastructure and construction sector. And within this, about 25-30 per cent is consumed in government projects. Remaining is consumed by white goods, automobiles and electrical items.

Government’s Policy Support

Echoing the sentiment, Swati Agrawal, CEO and President - Advisory at CARE Analytics and Advisory Pvt Ltd, also praised the government's proactive stance for steel Industry growth. "I think the government's very well not only very well prepared, I think they've really laid out decent policies, and they are moving in the direction," Agrawal observed, pointing to broader policy coherence that supports long-term industrial growth.

Details on Safeguard Duty Imposition

The Central Government imposed a 12 per cent safeguard duty in April this year with an aim to protect the domestic steel industry from a sudden and sharp increase in steel imports.

Targeting Imports from China

The safeguard tariffs are primarily aimed at China, which was the second-biggest exporter of steel to India behind South Korea. The government has set minimum import prices for five steel product categories ranging from USD 675 per tonne to USD 964 per tonne. Any shipment imported below these prices will attract a 12 per cent safeguard duty.

- ANI

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Reader Comments

P
Priyanka N
As someone working in infrastructure sector, I can confirm this policy is helping. Our steel procurement costs have stabilized after months of volatility. The PLI scheme is especially promising for specialized steel products we need for metro projects.
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Amit K
While I support protecting domestic industry, I worry about the trickle-down effect on small manufacturers. Many MSMEs rely on affordable steel imports. Hope the government has plans to support them too during this transition period.
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Swati Y
Good move but implementation is key! We've seen similar policies fail in past because of loopholes. Government must ensure strict monitoring to prevent under-invoicing and other malpractices that defeat the purpose of safeguard duties.
K
Karthik V
This is exactly what we needed to compete with China's dumping tactics. Our steel plants were suffering while Chinese mills were flooding our markets. Now Indian companies can invest in capacity expansion with more confidence. Jai Hind!
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Neha E
I appreciate the government's efforts, but hope they're also focusing on improving efficiency of our steel plants. Protectionism alone won't help if our production costs remain high compared to global standards. Quality and productivity matter too!

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