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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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World Cement Association Annual Conference 2026 in Bangkok

Global leaders to focus on decarbonisation and digitisation

Published

12 minutes ago

March 2, 2026

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The World Cement Association (WCA) will host its 2026 Annual Conference from 19–21 April 2026 at The Athenee Hotel in Bangkok, Thailand. The two-day programme will convene global cement industry leaders, policymakers, technology providers and stakeholders to examine strategic, operational and sustainability challenges shaping the sector’s next phase of transformation. The conference theme of shaping a sustainable future through digitisation, innovation and performance will frame sessions and networking opportunities across the event.\n\nThe programme will open with a comprehensive assessment of the global economic environment and its impact on cement markets, alongside regional outlooks across Asia and Europe. Speakers will address regulatory developments including carbon border adjustment mechanisms (CBAM) in Europe, progress in China’s carbon trading system and market dynamics in Thailand and South East Asia, and will outline practical decarbonisation pathways such as alternative fuels, next-generation supplementary cementitious materials (SCMs) and calcined clay developments. Sessions will also examine AI-enabled kiln optimisation and other digital approaches to improve plant performance.\n\nDay two will focus on overcapacity challenges and industry restructuring, using case studies and regional perspectives to provide delegates with practical insights into unlocking performance while accelerating decarbonisation. Discussions will explore digital maturity and AI-driven plant operations, manufacturing optimisation, sustainable building solutions and circular concrete models, together with evolving customer requirements across the construction value chain. The event will include the WCA Awards Ceremony at the Awards Gala Dinner on 20 April to recognise excellence in sustainability, innovation, safety and leadership.\n\nPhilippe Richart, chief executive officer of the WCA, said the sector was navigating a period of profound transformation, from managing overcapacity and market volatility to deploying AI and delivering measurable decarbonisation, and that the Annual Conference would bring global leaders together to exchange practical solutions and strengthen collaboration. Registration is open and tickets include admission to the two-day event, all sessions, refreshments and lunch, exhibition access and the Awards Gala Dinner. Further information on the programme is available via the WCA Annual Conference 2026 event page and queries on sponsorship or exhibition may be directed to events@worldcementassociation.org.

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Assam Chief Minister Opens Star Cement Plant In Cachar

New plant aims to boost local industry and supply chains

Published

12 minutes ago

March 2, 2026

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Chief Minister Himanta Biswa Sarma inaugurated the Star Cement plant in Cachar on 28 February 2026, marking the opening of a manufacturing facility designed to serve the region. The event was attended by state officials and company representatives, and it was reported with inputs from ANI. The plant is positioned as a strategic addition to the industrial landscape of southern Assam and is expected to improve the availability of construction materials for local projects.

The establishment is expected to generate employment opportunities and to stimulate ancillary businesses in the supply chain, including transport and local vendors. State officials indicated that the plant will enhance logistical efficiency by reducing the need to transport cement over long distances, which may lower construction costs for public and private projects. Observers said the presence of a regional cement facility can support housing and infrastructure initiatives that are underway or planned.

Government representatives reiterated that the state seeks to attract responsible investment that complements regional priorities and that the administration will continue to facilitate infrastructure and connectivity to support industrial operations. The inauguration was presented as consistent with broader efforts to diversify the industrial base in the northeast and to create an enabling environment for small and medium enterprises that supply goods and services to larger manufacturers.

Company sources and the state leadership underlined the importance of maintaining environmental safeguards while pursuing industrial growth, and they signalled that compliance with applicable norms will be a priority at the new facility. The announcement was framed as a step towards balanced development that links job creation, regional supply chains and local economic resilience. The report was prepared by the TNM Bureau with inputs from ANI.

Concrete

Adani Cement, NAREDCO Form Strategic Alliance

Partnership to advance skills and sustainable construction

Published

12 minutes ago

March 2, 2026

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Adani Cement has entered into a strategic partnership with the National Real Estate Development Council (NAREDCO) to support India’s expanding housing and infrastructure requirements aligned with the vision of Viksit Bharat 2047.

The collaboration brings together Adani Cement’s building materials portfolio, research capabilities and technical expertise with NAREDCO’s network of over 15,000 member organisations. The partnership will focus on skill development, knowledge exchange, technology adoption and sustainable construction practices across the real estate ecosystem.

Joint initiatives will include certification programmes for masons and contractors, along with training modules for site supervisors from NAREDCO member organisations to strengthen execution standards and quality control. The partners will also promote modern construction technologies, green materials and integrated building solutions, including ready-mix concrete, while exploring support for affordable housing.

Vinod Bahety, CEO – Cement Business, Adani Group, said, “This partnership reflects a shared commitment to nation-building and to creating an ecosystem where quality, innovation, and sustainability are integral to every project. By working closely with NAREDCO, we aim to equip developers with advanced materials, deeper technical support, and structured knowledge platforms that can improve performance across the entire project lifecycle.”

Dr. Niranjan Hiranandani, Chairman, NAREDCO, stated that the association aims to encourage responsible construction practices and promote adoption of green building norms across expanding urban centres.