Safeguard Duty Aims to Counter Global Steel Surplus

The safeguard duty imposed on flat steel products has been described as a calibrated and timely measure aimed at protecting the domestic steel industry while maintaining stability in the market.

Indian Steel Association President Naveen Jindal stated that the policy ensures continuity of steel supply for consumers and infrastructure projects, while supporting the long-term growth of the domestic steel sector.

He noted that the global steel industry is currently facing weak demand and excess production capacity. In contrast, India continues to emerge as a growth-oriented market, driven by strong domestic consumption and infrastructure-led expansion under the Atmanirbhar Bharat initiative.

According to Jindal, the diversion of surplus steel capacity from countries such as China, Japan, Korea and Vietnam into India poses challenges for domestic capacity utilisation, investment planning and employment. 

The safeguard duty helps counter these pressures by restoring competitive balance and strengthening the domestic steel value chain.

He further indicated that in view of persistent global supply imbalances, additional trade remedial measures may be considered as part of a broader policy framework to ensure sustainable and resilient growth in India’s steel sector.

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