New Delhi [India], October 22 (ANI): The Ministry of Steel has called for an ‘Open House’ to discuss issues related to the import of steel, slated for October 27, 2025. The discussion with various stakeholders will he held at Udyog Bhavan, the ministry said in a statement on Wednesday.
During the Open House, companies and associations will have the opportunity to present their issues related to the import of steel.
On Tuesday, the Reserve Bank of India, in its monthly bulletin, penned an article highlighting the impact of the dumping of steel in India.
Authors Anirban Sanyal and Sanjay Singh noted that India’s steel sector faced significant headwinds due to cheap imports and dumping from major global steel producers during 2023-24 and 2024-25.
Against the backdrop, their paper analysed the impact of cheap imports on India’s domestic production and consumption of steel at the aggregate level. The price sensitivity of steel imports was also evaluated.
Steel imports into India have seen a surge largely driven by the lower import price of steel, and it has impacted the domestic production of steel adversely, the RBI bulletin has asserted.
“Lower price point from imports led to a substitution of domestically produced steel to meet the elevated steel demand,” the highlights of the article ‘Steel Under Siege: Understanding the Impact of Dumping on India’ read.
The dumping of cheap steel from global producers may pose a risk to the domestic steel production, it noted, suggesting that it can be mitigated through suitable policy measures.
The article in the RBI bulletin noted that the recent initiative to impose the safeguard duty provided insulation against import dumping.
Earlier this year, India imposed a 12 per cent safeguard duty on the import of certain non-alloy and alloy steel flat products, in what the government considered a measure that is a timely and necessary step to protect domestic steel manufacturers from the adverse impact of import surges and to ensure fair competition in the market. (ANI)
Disclaimer: This story is auto-generated from a syndicated feed of ANI; only the image & headline may have been reworked by News Services Division of World News Network Inc Ltd and Palghar News and Pune News and World News
HINDI, MARATHI, GUJARATI, TAMIL, TELUGU, BENGALI, KANNADA, ORIYA, PUNJABI, URDU, MALAYALAM
For more details and packages
