JSW Steel Urges Higher Import Safeguard Duty as Steel Influx Rises

JSW Steel has called for stronger import safeguards to protect India’s steel industry from a fresh wave of cheap overseas supplies. Jayant Acharya, Joint MD of JSW Steel, warned that the current 12% safeguard duty on carbon steel imports is proving inadequate amid rising global trade diversions.

“India is once again becoming a target market. Exporters are absorbing part of the 12% duty and still sending material here due to limited global options,” Acharya said on June 21.

India imposed the 12% duty on April 21 for 200 days to shield domestic producers. While this initially reduced shipments, India remained a net importer. Steel imports fell 33.6% quarter-on-quarter to 1.41 million metric tonnes (mt) in the April-June period, but concerns remain over the volume and pricing of incoming steel.

Acharya pointed to a 112% year-on-year surge in steel imports from ASEAN countries in the last quarter, most of which benefit from zero-duty under Free Trade Agreements (FTAs). He also flagged renewed imports from Russia and warned that more low-priced supplies from other regions could follow.

“Many countries have kept 25% import duties for years. India must take a long-term view and consider stronger protection against unfair pricing to safeguard domestic players,” he added.

The remarks reflect growing anxiety among Indian steelmakers as international markets remain volatile and excess supply searches for new destinations. JSW’s stance is expected to intensify calls within the industry for a review of current trade protections.