Former Steel Secretary Sinha Calls for Swift Action on Unfair Steel Imports

Former Indian steel secretary Nagendra Nath Sinha has called for immediate government action against unfair steel imports and dumping. Speaking at the Indian Iron Ore and Pellet Summit, Sinha highlighted the negative impact of the Chinese market slump on domestic steel profitability. He urged timely anti-dumping measures to support local steelmakers.

Former Indian steel secretary Nagendra Nath Sinha has called for immediate government intervention to combat the so-called "unfair imports and dumping" affecting the nation's steel market. During his address at the 7th edition of BigMint's Indian Iron Ore and Pellet Summit, Sinha noted that the downturn in the Chinese market is disrupting the domestic scene.

Sinha highlighted that the current surge in steel imports is adversely impacting price realisations, thereby affecting the profitability of Indian steelmakers. He urged the government to respond promptly within a set timeframe to these challenges. Local steel companies have raised similar concerns, fearing the country might become a net importer of steel, contrary to its ambitions of becoming a global supplier.

The matter is under scrutiny, with the Indian government launching an anti-dumping investigation into hot-rolled steel imports from Vietnam. The probe, initiated by the Directorate General of Trade Remedies (DGTR), follows a complaint by domestic producers including JSW Steel Ltd and ArcelorMittal Nippon Steel India Ltd.

(With inputs from agencies.)