The Government acts as a facilitator, creating a conducive policy environment for the development of steel sector and facilitate the reduction of steel imports to improve the competitiveness of domestic steel manufacturers and reduce dependency on steel imports in India
Mar 11, 2025
Steel is a deregulated sector, and steel prices are determined by the demand-supply dynamics of market forces. The government acts as a facilitator by creating a conducive policy environment for the development of the steel sector, including small and medium producers in the country.
The government has taken the following steps to facilitate the reduction of steel imports and to improve the competitiveness of domestic steel manufacturers to reduce dependency on imports:
Launch of the Production Linked Incentive (PLI) Scheme for Specialty Steel: Such a scheme promotes the manufacturing of ‘speciality steel’ within the country and reduces imports by attracting capital investments.
Introduction of Steel Quality Control Orders: Such orders are thereby banning substandard/defective steel products in the domestic market as well as imports to ensure the availability of quality steel for the industry, users, and the public at large.
Anti-Dumping Duty (ADD) Measures: It pertains to some steel products like seamless tubes, pipes and hollow profiles of iron, alloy, or non-alloy steel (apart from cast iron and stainless steel) (from China PR), electro-galvanised steel (from Korea RP, Japan, Singapore), stainless-steel seamless tubes and pipes (from China PR), and welded stainless steel pipes and tubes (from Vietnam and Thailand) that are in place currently.
Countervailing Duty (CVD): It is in place for welded stainless steel pipes and tubes from China and Vietnam.
Basic Customs Duty (BCD): It has been reduced from 2.5% to nil on ferro-nickel and molybdenum ores and concentrates, which are raw materials for the steel industry.
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This information was given by the Minister of State for Steel and Heavy Industries, Shri Bhupathiraju Srinivasa Varma, in a written reply in the Lok Sabha.
