JSW Steel has urged Indian steel producers to pay close attention to steel imports, as Chinese exports remain high. According to Joint Managing Director and CEO Jayant Acharya, while import shipments to India have not increased, the continuous large export volumes from China remain a significant risk to the domestic sector.
According to Acharya, imports decreased during the period between the third and fourth quarters of the financial year. Still, he noted that the fragile nature of the economy meant things could change overnight due to global pressures. He advised that extra attention is needed, given that Chinese products are still being sold in significant numbers, even as other markets slow down.
According to Acharya, Vietnam, Japan, and South Korea present additional worries for India, along with FTAs with China. After signing the FTA, imported steel from these nations will face a lower amount of taxes, which could harm Indian manufacturers. In his view, Indian steelmakers are currently protected by safeguard duties. Provisional duties on flat steel came into effect at 12 percent from April 21, 2025.
It aims to help local companies by preventing dumping and providing fair competition for all producers. These authorities monitor these duties and may increase pressure if imports rise again. Customs performs additional research when signs of damage to domestic producers from imports are evident. If the authorities discover such things, they could decide on actions to solve the problem.
For the second consecutive year, India has had to import more steel than it exports. The data shows that imports of steel climbed by 9.2% to reach 10.5 million tonnes. In the same period, steel exports fell by 27% to 6.3 million tonnes. The increase in imports puts pressure on Vietnamese companies to compete with much cheaper products from abroad.
As one of India's largest steel producers, JSW Steel is urging officials to introduce new rules that support domestic manufacturing. As per its recent statements, the company continues to call for regular trade watch and swift policy adjustments to address market problems. Industry experts are urged to monitor these changes as agencies decide on safeguard duties and consider additional actions to mitigate steel import disruptions.