Concrete

Steelmakers Urge Government to Impose Temporary Tax on Cheap Imports

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

Published

2 years 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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JSW Cement Commissions 1 MTPA Unit in Rajasthan

Rajasthan grinding capacity rises to 3.50 MTPA after commissioning

Published

38 minutes ago

October 9, 2026

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JSW Cement has commissioned an additional 1 MTPA cement grinding unit in Nagaur, Rajasthan, taking the company’s total cement grinding capacity to 25.1 MTPA. The commissioning was announced on Tuesday, October 6.

The company said the new unit had increased the total cement grinding capacity at its Rajasthan plant to 3.50 MTPA. The expansion adds to JSW Cement’s production infrastructure as it continues to build capacity across its operating network.

The company’s total clinker manufacturing capacity, including capacity at its joint venture JSW Cement FZC, stands at 9.74 MTPA. Clinker is an intermediate material used in cement production, and its availability supports the company’s grinding operations.

JSW Cement is also pursuing a proposed merger of its listed subsidiary Shiva Cement with the company. The scheme, approved by the boards of the respective companies, involves issuing five fully paid-up JSW Cement equity shares for every 41 shares held by Shiva Cement shareholders other than JSW Cement.

The arrangement remains subject to shareholder and regulatory approvals. JSW Cement currently holds 66.23 per cent of Shiva Cement’s paid-up equity share capital, and the shares held by JSW Cement in the subsidiary will be cancelled under the proposal without any issue of JSW Cement shares against that holding.

The scheme has an appointed date of April 1, 2026, and the company has indicated that completion could take 12 to 14 months, depending on the receipt of approvals. These include clearances from stock exchanges, the Securities and Exchange Board of India, the National Company Law Tribunal and other applicable authorities, along with approvals from shareholders and creditors where required. JSW Cement shares closed at Rs. 113.15 on the BSE, up Rs. 2.05, or 1.85 per cent.

Concrete

Wonder Cement appoints Mahesh Singh as VP Corporate Brand Communication

Published

8 hours ago

October 9, 2026

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Singh brings 20+ years of brand and marketing experience, and will lead integrated corporate brand communication initiatives at Wonder Cement

New Delhi

Wonder Cement, a leading cement manufacturer, has appointed Mahesh Singh as Vice President – Corporate Brand Communication. In his new role, he will oversee corporate brand strategy and communication, including digital and performance marketing, public relations, trade, events, exhibitions, sports and experiential marketing.

Singh brings over two decades of experience across marketing and communications, with roles spanning the automotive industry, agencies and entrepreneurship. He spent more than a decade with Honda Motorcycle & Scooter India, working across integrated communication, media, digital, retail and consumer engagement. His stint also included helping build the company’s digital marketing capabilities.

He moved to dentsu X India as Vice President – Strategy & Planning, working across categories such as automotive, auto components, electric vehicles, FMCG, consumer electronics, BFSI, apparel and brand consulting. His responsibilities included media and marketing strategy, product launches, content, performance marketing and consumer activations.

Singh subsequently took an entrepreneurial route with Radiant Brands before joining Shriram Ltd (SPR Autotech) as Head – Marketing & Communications. There, his remit included brand and corporate strategy, communications, PR and ORM, retail identity, loyalty programmes and events.

At Wonder Cement, Singh will be responsible for bringing together the company’s corporate brand communication initiatives across digital, performance marketing, PR, trade, sports and experiential platforms. The role will focus on creating an integrated approach to communication across consumers, trade partners and other key stakeholders.

The appointment brings to Wonder Cement a marketer whose career has spanned the brand, agency and entrepreneurial sides of the communications ecosystem.

Wonder Cement, part of the RK Group, is a cement manufacturer with roots in Rajasthan and a focus on quality, trust and transparency. The company has grown to six manufacturing plants, and a cement capacity of 21.5 MTPA. With more than 2,000 employees and a network of over 5,000 dealers, its operations span manufacturing, distribution and customer engagement, with a focus on consistent product quality and efficient execution.

Concrete

JSW Cement commissions additional 1 MTPA grinding unit in Rajasthan

The Nagaur expansion takes JSW Cement’s total grinding capacity to 25.10 MTPA.

Published

1 day ago

October 8, 2026

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JSW Cement has commissioned an additional 1 million tonne per annum (MTPA) cement grinding unit at its Nagaur Integrated Plant in Rajasthan. The commissioning takes the company’s total cement grinding capacity to 25.10 MTPA.

JSW Cement’s total clinker manufacturing capacity, including its joint venture JSW Cement FZC, now stands at 9.74 MTPA.

The company began operations in North India in March 2026 with the Nagaur Integrated Plant, comprising a 3.30 MTPA clinkerisation unit and a 2.50 MTPA cement grinding unit. With the latest expansion, the plant’s total grinding capacity has increased to 3.50 MTPA.

The additional capacity will cater to cement demand across Rajasthan, Haryana, Punjab and the National Capital Region (NCR). The expansion has been funded through a combination of equity and long-term debt.

During the quarter ended September 30, 2026, JSW Cement also commissioned an Alternate Fuel Handling System and a Waste Heat Recovery System (WHRS) at the Nagaur plant.

Nilesh Narwekar, CEO, JSW Cement, said the additional grinding capacity was a strategic priority for the company’s expansion in North India. He added that the Alternate Fuel Handling System and WHRS were expected to reduce production costs.