India’s dependence on China for steel increased, Indian companies worried about cheap imports

India Steel Import: India’s dependence on China for steel is growing. In the primary eight months of the present monetary yr (until March 2025), steel imports from China to India have reached their report stage. This has been revealed in authorities figures. Import of cheap steel from China has elevated the issues of the nation’s steel companies.

Import of completed steel from China into India

Import of completed steel from China to India has reached an eight-year excessive. At current, India is the second largest producer of crude steel on this planet, regardless of this, India has been a web importer of steel within the final eight years. The knowledge reveals that India imported 6.5 million metric tonnes of completed steel, displaying a year-on-year enhance of 26.6 per cent.

China is repeatedly sending completed steel to India

According to the information, China despatched 1.96 million metric tons of steel to India throughout April-November, which is 22.8 p.c greater than final yr. In explicit, stainless steel, hot-rolled coils, plates, electrical sheets, galvanized plain or corrugated sheets, pipes, bars and rods and different grades had been exported from Beijing.

India can also be importing steel from Japan

Data present that imports of completed steel from Japan additionally reached not less than a six-year excessive throughout April-November. This greater than doubled to 1.4 million metric tons. During this era, the contribution of whole completed steel imports into India from China, Japan and South Korea was 79 p.c.

During this era, hot-rolled coils had been imported probably the most, whereas imports of non-flat class bars and rods remained on the high. To curb unbridled imports of steel, New Delhi initiated an investigation into whether or not a safeguard obligation of as much as 25 per cent ought to be imposed as a short lived tax on its imports. India grew to become a web importer of steel within the monetary yr ending March 2024 and since then imports have continued to extend.

The demand for steel in India is increased than in different international locations, because of sturdy financial development and new infrastructure initiatives.

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