Push for Higher Import Duties to Shield Indian Manufacturers

Abhyuday Jindal, Managing Director of Jindal Stainless, advocates for a 20-25% import duty on stainless steel to protect domestic manufacturers amid global market shifts. With US raising import taxes, India might face increased imports. Jindal highlights the need for government support to ensure fair competition.

Abhyuday Jindal, the managing director of Jindal Stainless, has called for increased import duties of up to 25% to shield domestic manufacturers from potential dumping in the burgeoning Indian market.

Highlighting the recent US decision to impose a 25% import tax on steel and aluminum, Jindal noted this benefit for the domestic industry, as similar measures level the playing field in India.

Despite no signs of a domestic demand slowdown, Jindal emphasized, manufacturers are turning to imports due to lower costs, urging government intervention to protect and promote local production.