Japan has sought exemptions from India’s proposed safeguard duty on steel imports, an Indian government official said on Friday, February 7.
The official said that exemption from the proposed 25 percent safeguard duty on steel imports was sought during the third ‘Indo-Japan Steel Dialogue’ held in New Delhi earlier this week.
The Japanese delegation, comprising government and industry officials, argued that their steel products are essential for India's demand for high-performance steel, which cannot be adequately met by domestic production in terms of quantity and quality.
The presentation made by the Japanese delegation highlighted the necessity of Japanese steel for Indian consumers and requested that Japan be excluded from any such tariffs. The Japanese embassy in India and the Japan Iron and Steel Federation have previously reached out to India's trade and steel ministries, urging them not to impose a temporary tax on steel imports.
The official said that Japan made out a strong case that, if any safeguard duty on steel imports was to be levied by the Indian government, it should be country-specific, instead of the levy being a flat rate irrespective of the origin of the inward shipments.
It may be noted that 79 percent of Indian steel imports during the April-December period of the fiscal year 2024-25 was accounted for by shipments from China, Japan and South Korea. Imports from Japan and South Korea do not attract any import duties under free trade agreements (FTAs) between these countries and India.
The Indo-Japan Steel Dialogue reviewed progress and the future for ongoing capacity-building initiatives aimed at enhancing technology collaboration and skill development. Both sides reaffirmed their commitment to deepening cooperation in areas of mutual interest and identifying pathways to further strengthen strategic relationships in the steel sector.
The Japanese delegation assured continued support for investments in newer steel technologies in India. In turn, India reiterated its commitment to ensure ease of doing business for Japanese companies under the framework of the dialogue, the official said.
