To shield domestic producers from a surge in cheap imports, especially from China, India has enacted a 12% safeguard duty on certain steel products, effective for 200 days starting April 21, 2025.
Major Indian steelmakers like JSW Steel, Tata Steel, and SAIL support the tariff, viewing it as a necessary step to counteract the influx of low-cost steel imports that have pressured local mills.
Industries reliant on steel, such as construction and automotive sectors, express worries over potential cost increases due to the tariff, which could impact project budgets and product pricing.
India's tariff aligns with global trends, as countries like the U.S. have also imposed steel import duties. This move aims to prevent India from becoming a dumping ground for diverted steel exports.
While the tariff offers relief to domestic producers, it's crucial for India to monitor its impact on the broader economy and ensure that protective measures don't hinder growth in other sectors.