In a statement, the Indian Steel Association welcomed the government's move and emphasized that this tax is vital for domestic producers. “This step to prevent imports from reaching destructive prices will contribute to the sustainable growth of the steel sector,” the statement read.
Contribution to “Aatmnirbhar Bharat” and “Viksit Bharat” goals
The Indian Steel Association stated that the decision is in line with the goal of reaching a production capacity of 300 million tons by 2030, reinforcing investors' confidence in the vision of “Aatmnirbhar Bharat” (Self-Sufficient India). The Association noted that this move is also an important building block towards the vision of “Viksit Bharat” (Developed India).
The statement also thanked Prime Minister Shri Narendra Modi for his strong support to the industry and infrastructure investments, noting that the government's visionary approach has played a critical role in shaping the future of the steel industry.
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