Ratan Jindal, Chairman of Jindal Stainless, one of India's leading industrial organizations, stated that the stainless steel industry is under increasing import pressure and called on the government to take urgent tax measures against this situation.
Jindal stated, “Today, low-priced imports from China and Vietnam continue in many sectors, including stainless steel. Appropriate tariffs against these countries are essential to protect our industry, especially SMEs.”
Emphasizing that countries with excess production capacity direct their products to India through free trade agreements, Jindal emphasized that this situation disrupts the competitive environment, especially for small and medium-sized enterprises.
Jindal noted that India has an installed stainless steel capacity of 7.5 million tons, but only about 60% of it is being used. He emphasized that 30% of consumption is still met by imports.
“We need a coherent policy ecosystem that encourages domestic production and supports the Make in India initiative,” Jindal stated, calling for a separate policy to protect the sector.
On the other hand, JSL Director Vijay Sharma announced that the Indian Stainless Steel Development Association (ISSDA) will file a dumping investigation application with the Directorate General of Trade Protection (DGTR) later this month.
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