Why the Indian Steel Sector is under threat

The Indian Steel Association (ISA) had written to the government in August on the perils of Chinese Steel entering the Indian market.

[{"selector":"#anim-337c5bd2-26e0-46e4-9b4a-cd136636dd76 [data-leaf-element=\"true\"]","keyframes":{"transform":["translate(-2.400482215405743e-15%, -2.1354030615833139e-7%) scale(1.3378378378378377)","translate(0%, 0%) scale(1)"]},"delay":0,"duration":5000,"easing":"cubic-bezier(.3,0,.55,1)","fill":"forwards"}]

In 2023, China recorded its highest steel exports since 2016.

[{"selector":"#anim-10765bb0-d1ce-42fa-b6e6-0ca098cb32e5","keyframes":{"opacity":[0,1]},"delay":1000,"duration":2000,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] [{"selector":"#anim-175cb7ad-ac4b-4078-be3e-eb6e523aa554","keyframes":{"transform":["translate3d(0px, 162.08114%, 0)","translate3d(0px, 0px, 0)"]},"delay":1000,"duration":2000,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] [{"selector":"#anim-39e2a270-c2ad-4d94-8859-44265ddbc2d9 [data-leaf-element=\"true\"]","keyframes":{"transform":["translate3d(13.388115418953367%, 0, 0)","translate3d(0%, 0, 0)"]},"delay":0,"duration":5000,"easing":"cubic-bezier(.3,0,.55,1)","fill":"both"}]

Already reeling under pressure from compliance with the CBAM rules, the Indian Steel Sector found its market shifting away.

[{"selector":"#anim-02e83bfc-1d50-4a6d-b3a3-8843fb68db93","keyframes":{"opacity":[0,1]},"delay":0,"duration":2000,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] [{"selector":"#anim-f2d55a2d-beb2-45a6-ad2b-e05ea287505e","keyframes":{"transform":["translate3d(0px, 182.14820%, 0)","translate3d(0px, 0px, 0)"]},"delay":0,"duration":2000,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] [{"selector":"#anim-1ce32df2-02a9-411f-964e-a8fcee592d3a [data-leaf-element=\"true\"]","keyframes":{"transform":["translate(0%, -5.970052558832171e-7%) scale(1.4132231404958677)","translate(0%, 0%) scale(1)"]},"delay":0,"duration":5000,"easing":"cubic-bezier(.3,0,.55,1)","fill":"forwards"}]

The government has thus taken a decision to facilitate the growth of the sector.

[{"selector":"#anim-072dbbe5-f8dc-4b6e-9720-b5886a088461","keyframes":{"opacity":[0,1]},"delay":1500,"duration":2000,"easing":"cubic-bezier(0.4, 0.4, 0.0, 1)","fill":"both"}] [{"selector":"#anim-1ce9e077-212f-472d-8b15-e3ff8eb8c3e5 [data-leaf-element=\"true\"]","keyframes":{"transform":["translate(5.179384838745608%, 16.005669676164825%) scale(0.6774193548387097)","translate(0%, 0%) scale(1)"]},"delay":0,"duration":5000,"easing":"cubic-bezier(.3,0,.55,1)","fill":"forwards"}] Learn more

The Indian Steel Association (ISA) had written to the government in August on the perils of Chinese Steel entering the Indian market.

In 2023, China recorded its highest steel exports since 2016.

Consequently, imports from China saw an increase of approximately 63% in April-July.

Already reeling under pressure from compliance with the CBAM rules, the Indian Steel Sector found its market shifting away.

The government has thus taken a decision to facilitate the growth of the sector.

How?