The Centre has decided to call an ‘open house’ to discuss issues related to steel imports with stakeholders on Monday, signalling its concern in the matter even after the commerce ministry recommended a safeguard duty of 12 per cent for three years.
The ministry asked companies and associations to present their issues in the open house scheduled for October 27 in the national capital, it said in a statement.
The development comes at a time when domestic players have been complaining about cheap imports affecting their competitiveness. Benchmark hot rolled coil prices have come down by close to ₹3,000 a tonne after hitting a high in May, days after the 200-day provisional safeguard duty was imposed in April.
In August, the Directorate General of Trade Remedies recommended that a 12 per cent safeguard duty on certain steel products remain in force for three years. A final customs notification from the finance ministry is still awaited.
Meanwhile, the US and EU announced that import duty on steel will attract 50 per cent tariffs. Earlier this week, Jayant Acharya, JSW Steel MD & CEO, told The Telegraph that the 12 per cent duty by India is not adequate.
The Reserve Bank of India (RBI) has also noted that steel imports have seen a surge, largely driven by lower import prices. It has also called for policy support to boost the competitiveness of domestic steel production.
“The dumping of cheap steel from global producers may pose a risk to the domestic steel production, which can be mitigated through suitable policy measures. The recent initiative to impose the safeguard duty provides insulation against the import dumping,” said an article published in the RBI’s October Bulletin.
India’s iron and steel imports expanded 10.7 per cent in the first half of FY24-25 and recorded a contraction in the second half, mainly due to safeguard duties. India’s imports of finished steel rose to 0.67 mt in August 2025 compared with 0.45 mt in July 2025.
The shares of China, Taiwan and Germany fell in India’s steel imports in August compared with last year. For Korea, Japan, Russia, Vietnam, Thailand, Indonesia and Italy, the share has increased.