The Indian steel market is facing challenges from "unfair imports and dumping" due to a demand slump in China, prompting calls for timely government intervention, according to former steel secretary Nagendra Nath Sinha.
Speaking at the 7th edition of BigMint's Indian Iron Ore and Pellet Summit on Friday, Sinha, who retired on July 31, highlighted the impact of these imports on the domestic market, particularly in the flat steel products segment. "The slump in the Chinese market has really shaken the domestic market," Sinha said, warning that surging imports are affecting price realisations and threatening the profitability of Indian steelmakers.
Sinha emphasised the urgency of addressing these issues, stating, "To the extent the imports currently happening are unfair and there is dumping going on, the Indian government should certainly respond to them in a timeframe."
His comments come as Indian steel producers have been voicing concerns about increasing imports, particularly from countries like China, which are turning India into a net importer of steel—a shift that contradicts the nation's goal of becoming a global supplier.
Sinha also criticised the prolonged timeframe for imposing duties, noting that industry players are waiting up to a year and a half for decisions on such matters. "This is not going to help the industry, at least give them a fair hearing," he added.
On August 16, the Indian government launched an anti-dumping investigation into the import of hot-rolled steel products from Vietnam, following a complaint from the Indian Steel Association on behalf of domestic producers JSW Steel Ltd and ArcelorMittal Nippon Steel India Ltd. The Directorate General of Trade Remedies (DGTR), the commerce ministry's investigation arm, is conducting the probe into alleged dumping of these steel products.
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