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Steel Ministry to double import duty to counter Chinese steel dumping

Chinese imports now account for nearly one-third (33%) of India’s total steel imports.

Published

2 years ago

October 7, 2024

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The Indian Steel Ministry has proposed doubling the basic customs duty (BCD) on steel imports from the current 7.5% to 15%, citing a significant surge in imports from China. This recommendation, aimed at protecting domestic steel manufacturers, was detailed in a letter sent to the Finance Ministry by Union Steel Secretary Sandeep Poundrik. The ministry’s internal assessment indicates that Chinese imports now account for nearly one-third (33%) of India’s total steel imports, posing a threat to local industry dynamics.

This is the first time the Steel Ministry has officially acknowledged the sharp rise in Chinese steel imports, which industry experts have labelled as “dumping.” The letter compares India’s situation to similar actions taken by the European Union and the United States, which have implemented safeguards to counter unfair trade practices.

The Ministry’s report highlights that many new steel capacities in the region are driven by Chinese investments aimed at export markets like India. It also raises concerns about steel shipments being diverted from ASEAN nations, particularly Vietnam, which benefits from zero customs duty under the India-ASEAN Free Trade Agreement (FTA).

The letter also points to the misuse of India-ASEAN FTAs, which are being leveraged to route cheaper Chinese steel through South Asian nations. “The current import price of steel products from China is significantly lower than domestic prices even with a 7.5% BCD. Our analysis shows that even if the duty is raised to 12.5%, Chinese steel would still undercut domestic prices,” the Steel Secretary noted.

In September 2024, the average price of hot rolled coils (HRC) in India stood at Rs 48,200 per tonne, while similar steel from China was priced at $462 per tonne, and from South Korea at $500 per tonne, according to market consultancy BigMint.
India has been a net steel importer in FY24, with imports rising by 34% to reach 3.72 million tonnes (mt) in the first five months of the fiscal year (April-August). The trade deficit for this period widened to Rs 149.11 billion, with HRC and cold rolled coils (CRC) being the primary imported categories.

The letter underscores that despite increased domestic steel production, rising imports are displacing locally produced steel, leading to market disruptions.
The Steel Ministry emphasised the need for higher import duties to safeguard domestic investments and prevent potential losses in the sector. Steel, with its significant multiplier effect on GDP (1.4x) and employment (6.8x), is a crucial component of the Indian economy. The letter warns that nearly Rs 75,000 crore of capital expenditure is “under threat” due to disruptions in the investment cycle.

The ministry’s analysis also showed that ASEAN countries currently consume around 75 mt of steel—25 mt from imports and 50 mt from domestic production. With steel production capacities expected to rise from 78 mt to 104 mt in the coming years, Chinese exports are likely to flood these markets and could be redirected to India through FTAs.

The Steel Ministry has urged the Finance Ministry to consider these factors and implement higher duties to protect the domestic steel industry from the growing influx of low-priced Chinese imports.
(Business Line)

Related Topics:Coking coal India Ministry of Steel Raw materials

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JSW Cement Commissions 1 MTPA Unit in Rajasthan

Rajasthan grinding capacity rises to 3.50 MTPA after commissioning

Published

3 days 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.

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Wonder Cement appoints Mahesh Singh as VP Corporate Brand Communication

Published

3 days 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.

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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

4 days 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.