Safeguard duty cuts steel imports by 21 pc in April
In April 2025, a 12% safeguard duty on steel imports, primarily from China and Vietnam, reduced imports by 21% sequentially, yet India remained a net steel importer, with imports slightly exceeding exports. The duty, aimed at protecting domestic steel producers, caused a significant drop in imports of finished steel, but exports also declined. While imports were reduced, India still imported more steel than it exported in April, indicating the country’s reliance on steel imports even with the new duty in place.
According to a Steel Ministry report, imports of the alloy reached 0.46 million tonnes (mt), outstripping exports of 0.38 mt by 0.08 mt. The duty, imposed to shield domestic producers by increasing costs for Chinese and Vietnamese steel, drove imports down from 0.58 mt in March, while exports fell 17% from 0.46 mt, as per a report.
Source: Exim News Service: New Delhi, May 15