Goyal said there is sufficient scope to double India’s steel production capacity, while stressing that domestic producers making new investments need to be protected against dumped imports.
During his visit to Japan from August 24–27, Goyal discussed steel trade at a roundtable meeting with representatives of Japanese companies in Tokyo. According to India’s Ministry of Commerce and Industry, Goyal is leading a delegation of more than 200 business representatives from the steel, automotive, manufacturing, clean energy and other sectors.
“India can double its capacity”
Goyal noted that India remains a net steel importer, adding that there is significant potential to expand domestic production capacity.
He said India has enough room to double its steel capacity and stressed that producers need protection from dumped imports as investments in the sector continue. The Indian steel industry has previously raised concerns over the impact of excess capacity in countries such as China on the domestic market.
Goyal urges Japanese companies to source steel from India
Goyal called on Japanese companies to purchase more steel products made in India, particularly products manufactured at competitive prices and in line with Japanese quality standards.
Goyal said he has been making this appeal to Japanese companies for nearly seven years. He noted that some steel products made in India are of the same quality as Japanese steel or are available at lower prices, yet Japanese companies have not been sourcing sufficient volumes from India.
Goyal also questioned why steel products that can be manufactured in India are being imported from Japan, while noting that Japanese companies facing issues related to trade measures can approach India’s Directorate General of Trade Remedies (DGTR).
India introduced a three-year safeguard measure on imports of certain steel products in December 2025. The measure aims to limit the impact of global excess capacity and low-priced imports on domestic producers.
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