Stainless Steel Sector Urges Action Against Rising Imports: Advocating for 'Make in India'

The Indian stainless steel industry is calling for government intervention to shield local manufacturers from a surge in imports. Measures like safeguard duties and a focus on the 'Make in India' initiative are suggested to address unfair trade practices and enhance domestic capabilities, amid global economic challenges.

The Indian stainless steel industry is requesting urgent government action to protect local manufacturers from the detrimental effects of rising finished steel imports. The Indian Stainless Steel Development Association (ISSDA) identifies this import surge as a serious threat to the stability of the domestic industry.

Highlighting concerns over high input costs and market volatility, the ISSDA alongside key industry figures, urges the government to implement protective measures. These include potential tariffs, increased domestic production, and tackling unfair trade. The call for stronger 'Make in India' policies is emphasized to foster a conducive manufacturing environment.

Industry leaders such as Vijay Sharma and Yash Mehta underscore the impacts of subsidized imports primarily from China, which they claim undermines local competition and jeopardizes the sector's future. The upcoming Global Stainless-Steel Summit 2025 will deliberate on these challenges, aiming for sustainable solutions.

(With inputs from agencies.)