The Indian Steel Association (ISA), the representative body of domestic steel producers, will approach the government seeking remedy of trade distortions with China leading to a spike in steel imports from the country, the association said in a statement on Tuesday, August 29.
“Systemic changes are needed. Trade measures take time to have impact. India is an easy target due to its low duty regime and we will take this up with the government,” Alok Sahay, secretary general of the ISA, said.
“For a level playing field, trade distortions created by exporting countries have to be countered well in time and effectively,” he said.
The ISA’s data showed that India imported 570,000 mt of Chinese steel in the April-July period of the fiscal year 2023-24, an increase of 63 percent year on year. Imports from South Korea amounted to 685,000 mt, a fall of four percent year on year.
The ISA figures are sourced from the Joint Plant Committee (JPC) under the ministry of steel, which is the sole official compiler of steel sector data.