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Steelmakers Urge Government to Impose Temporary Tax on Cheap Imports

Industry experts suggest that the government needs to take a more proactive approach

Published

1 year ago

November 25, 2024

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India’s steelmakers, facing severe financial stress due to rising imports of cheap steel from countries like China, Japan, South Korea, and Vietnam, are calling on the government to impose a temporary tax to protect the domestic industry. The Indian Steel Association (ISA), which represents major steel producers such as JSW Steel, Tata Steel, and the Steel Authority of India (SAIL), is pushing for urgent action to curb what it sees as a flood of steel imports at predatory prices that threaten the survival of the domestic industry.

The ISA’s latest presentation to the Directorate General of Trade Remedies (DGTR), a branch of the federal trade ministry, highlights the impact of cheap imports on Indian steelmakers, particularly in key segments such as hot-rolled steel, coated steel, and steel plates. According to the ISA, these imports have displaced a significant portion of the domestic market share, leading to a loss of 17% in the hot-rolled segment, 20% in coated steel, and 19% in the plates segment. This surge in imports, particularly from countries with surplus steel production, has forced Indian mills to reduce their prices, putting additional strain on their financial health.

The ISA has also pointed out that countries like Vietnam, which was once an importer of Indian steel, have now become exporters of steel to India. This reversal in trade dynamics is contributing to the over-saturation of the Indian market with cheap steel, further exacerbating the financial difficulties faced by local producers. In response, the Indian government launched an anti-dumping investigation into steel imports from Vietnam, which is still ongoing. The ISA argues that such measures are necessary to protect the integrity of India’s domestic steel industry.

India, the world’s second-largest crude steel producer, has seen a sharp rise in steel imports, with finished steel imports reaching a seven-year high of 5.7 million metric tons between April and October of the current fiscal year. This increase in imports has led to a significant drop in the margins of Indian steelmakers, with some mills reporting losses of up to 91%. The financial stress caused by cheap imports is also affecting the ability of steelmakers to invest in new capacity expansions, raising concerns about the long-term growth prospects of the industry.

JSW Steel, India’s largest steelmaker by capacity, has already reported a third consecutive quarterly decline in profits, citing the impact of rising imports on domestic steel prices. Tata Steel and SAIL have also expressed concerns over the declining margins and reduced profitability, urging the government to step in and impose temporary safeguard duties to counter the influx of cheap foreign steel.

The ISA is lobbying for the government to implement a safeguard duty, which would temporarily increase tariffs on imported steel. This move is expected to protect domestic producers from the surge in low-priced imports and provide them with a level playing field to compete in the domestic market. The proposed safeguard duty would apply to imports from countries such as China, South Korea, Japan, and Vietnam.

The Indian government has already implemented various protective measures, including anti-dumping duties on certain steel products from China and South Korea. However, the ISA argues that these measures have not been sufficient to stem the tide of cheap imports, and a safeguard duty would offer additional protection to the struggling domestic steel industry.

Industry experts suggest that the government needs to take a more proactive approach to safeguard the interests of domestic steel producers. Without such measures, they warn that India’s steel sector could lose its competitive edge in the global market, further harming the economy.

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NDMC Rolls Out Intensive Sanitation Drive Across Lutyens Delhi

Municipal body intensifies cleaning and monitoring across the capital

Published

3 hours ago

March 13, 2026

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The New Delhi Municipal Council has launched an intensive sanitation drive across Lutyens’ Delhi, aiming to raise cleanliness standards in the capital’s central precincts. The programme will combine enhanced manual sweeping with mechanised cleaning and systematic waste removal to cover parks, heritage precincts and prominent thoroughfares. Authorities described the initiative as a sustained effort to improve public hygiene and reduce environmental hazards while maintaining the area’s civic image.

Operational teams have been instructed to prioritise drain clearing and litter hotspots, with special attention to markets and transit nodes that attract heavy footfall. Coordination with city utilities and waste processing units will be stepped up to ensure timely collection and disposal, and supervisory rounds will monitor adherence to cleaning schedules. Officials also intend to use data-driven planning to deploy resources efficiently and to identify recurring problem areas.

The council plans to engage resident welfare associations and business stakeholders to foster community participation in maintaining cleanliness and to support behavioural change campaigns. Public communication will be amplified through notices and outreach to encourage responsible waste handling and to inform residents about collection timings and segregation norms. Enforcement measures for littering and unauthorised dumping will be reinforced as part of a broader strategy to deter violations and sustain cleanliness gains.

The move reflects a focus on urban sanitation that officials link to public health priorities and to the city administration’s commitment to maintaining civic amenities. Monitoring mechanisms will include regular reporting and inspections to review outcomes and to recalibrate operations where necessary, according to municipal sources. The council emphasised that continued community cooperation will be essential for the drive to deliver lasting improvements in the appearance and hygiene of the capital’s core areas.

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UltraTech Appoints Jayant Dua As MD-Designate For 2027

Executive named to succeed current managing director in 2027

Published

3 days ago

March 10, 2026

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UltraTech Cement has appointed Jayant Dua as managing director (MD) designate who will take charge in 2027, the company announced. The appointment signals a planned leadership transition at one of the country’s largest cement manufacturers. The board has set a clear timeline for the handover and has framed the move as part of a structured succession plan.

Jayant Dua will be referred to as MD after assuming the role and will be responsible for overseeing operations, strategy and growth initiatives across the company’s network. The company said the designation follows established governance norms and aims to ensure continuity in executive leadership. The appointment is expected to allow a phased transfer of responsibilities ahead of the formal changeover.

The decision is intended to provide strategic stability as UltraTech Cement navigates domestic infrastructure demand and evolving market dynamics. Management will continue to focus on operational efficiency, capacity utilisation and cost management while aligning investments with long term objectives. The board will monitor the transition and provide further information on leadership responsibilities closer to the effective date.

Investors and market observers will have time to assess the implications of the announcement before the change is effected, and analysts will review the company’s outlook in the context of the succession. The company indicated that it will communicate any additional executive appointments or organisational changes as they are finalised. Shareholders were advised to refer to formal filings and company releases for definitive details on governance or remuneration.

The leadership change will be managed with attention to stakeholder interests and operational continuity, and the company reiterated its commitment to delivery on ongoing projects and customer obligations. Senior management will engage with employees and partners to ensure a smooth handover while maintaining focus on safety and compliance. Further updates will be provided through official investor communications in due course.

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Merlin Prime Spaces Acquires 13,185 Sq M Land Parcel In Pune

Rs 273 crore purchase broadens the developer’s Pune presence

Published

1 week ago

March 6, 2026

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Merlin Prime Spaces (MPS) has acquired a 13,185 sq m land parcel in Pune for Rs 273 crore, marking a notable expansion of its footprint in the city.

The transaction value converts to Rs 2,730 mn or Rs 2.73 bn.

The parcel is located in a strategic area of Pune and the firm described the acquisition as aligned with its growth objectives.

The deal follows recent activity in the region and will be watched by investors and developers.

MPS said the acquisition will support its planned development pipeline and enable delivery of commercial and residential space to meet local demand.

The company expects the site to provide flexibility in product design and phased development to respond to market conditions.

The move reflects an emphasis on land ownership in key suburban markets.

The emphasis on land acquisition reflects a strategy to secure inventory ahead of demand cycles.

The purchase follows a period of sustained investor interest in Pune real estate, driven by expanding office ecosystems and residential demand from professionals.

MPS will integrate the new holding into its existing portfolio and plans to engage with local authorities and stakeholders to progress approvals and infrastructure readiness.

No financial partners were disclosed in the announcement.

The firm indicated that timelines will depend on approvals and prevailing market conditions.

Analysts note that strategic land acquisitions at scale can help developers manage costs and timelines while preserving optionality for future projects.

MPS will now hold an enlarged land bank in the region as it pursues growth, and the acquisition underlines continued corporate appetite for measured expansion in second tier cities.

The company intends to move forward with detailed planning in the coming months.

Stakeholders will assess how the site is positioned relative to existing infrastructure and connectivity.