Govt Must Monitor Unfair Steel Imports to Protect Domestic Steel Market: Tata Steel CEO

India’s steel market is at a critical juncture, with domestic demand remaining strong even as global price pressures and imports pose growing challenges. Tata Steel Managing Director and CEO T V Narendran has called on the government to closely monitor unfairly priced steel imports, cautioning that such inflows could undermine domestic producers and long-term investment plans.

Speaking on market conditions, Narendran said steel prices appear to have bottomed out in the previous quarter and are expected to firm up in the domestic market in the current quarter. He noted that demand from key sectors such as construction, infrastructure and automobiles continues to remain resilient, supported by sustained public spending and private investment.

India’s steel demand, he said, is now growing faster than the country’s overall economic growth, driven largely by investment-led expansion rather than consumption alone. Infrastructure projects, housing development and industrial activity have been major contributors to this trend, helping steelmakers maintain high capacity utilisation levels.

However, Narendran warned that unfairly priced imports could distort market dynamics if left unchecked. He stressed that timely trade action is critical, as damage from low-priced imports can occur rapidly. The steel sector, he pointed out, is among the largest private-sector investors in India and requires a stable policy environment to sustain capital-intensive expansion plans.

On global trade developments, Narendran said the European Union’s Carbon Border Adjustment Mechanism, or CBAM, would have limited impact on Tata Steel’s Indian operations, as exports from India to Europe are relatively small. Instead, he described the mechanism as positive for the company’s European business, as it creates a level playing field by equalising carbon costs for all suppliers.

Tata Steel’s leadership also highlighted the importance of continued infrastructure spending by the government, noting that improved logistics and transportation networks help reduce costs beyond factory gates. Such measures, combined with effective safeguards against unfair imports, are seen as essential to maintaining the competitiveness of India’s domestic steel industry.

As the steel market navigates global volatility and evolving trade regulations, industry leaders believe close monitoring of imports and consistent policy support will be key to sustaining growth and protecting domestic manufacturing capacity.