Indian Stainless Steel Industry Seeks Anti-Dumping Duties Amid Surge in Imports

India’s stainless steel industry is advocating for the imposition of anti-dumping duties to protect domestic manufacturers from the influx of low-priced imports. The Indian Stainless Steel Development Association (ISSDA) plans to file an application with the Directorate General of Trade Remedies (DGTR) to investigate the dumping of stainless steel items from specific countries.

Rationale Behind the Push

In the fiscal year 2024–25, India consumed approximately 4.85 million tonnes of stainless steel, with imports accounting for about 1.73 million tonnes—a 3% increase compared to the previous year. These imports primarily originated from China, Indonesia, Vietnam, and South Korea.

Despite having a domestic production capacity of around 7.85 million tonnes, the industry’s current capacity utilization stands at approximately 60%. This underutilization is attributed to the market being flooded with cheaper imports, which undermines the competitiveness of local manufacturers.

Industry Leaders’ Perspectives

Vijay Sharma, Director of Corporate Affairs at Jindal Stainless, emphasized the need for a policy framework tailored to the stainless steel sector to support domestic manufacturing. He stated, “We need a policy ecosystem that is conducive to domestic manufacturing and consistent in favouring Make in India in the long term. Only then will we be able to claim our position in the global stainless steel industry.”

Ratan Jindal, Chairman of Jindal Stainless, highlighted the importance of protective measures to maintain investor confidence and ensure continued investment in the sector.

Previous Measures and Ongoing Challenges

Earlier, India imposed a 12% temporary safeguard duty on certain steel imports to support local mills. However, stainless steel was not included in the products covered by this tariff. The industry now seeks specific anti-dumping duties on stainless steel imports to address the challenges posed by the influx of low-priced products.