Kaithal, April 22 -- Naveen Jindal, President of the Indian Steel Association and Chairman of Jindal Steel and Power, has welcomed the decisive move to shield its domestic steel industry from a surge of low-priced imports.
The union government has imposed a 12% safeguard duty on certain flat steel products for 200 days, effective April 21, 2025.
This temporary measure aims to curb the influx of cheap steel imports, primarily from China, South Korea, and Japan, which accounted for 78% of India's finished steel imports in the fiscal year 2024-25.
The Directorate General of Trade Remedies (DGTR) recommended this duty following an investigation initiated in December 2024. The probe revealed that the sharp increase in imports of non-alloy an...