Forging Stronger Ties: India-US Steel and Trade Relations

India and the US are enhancing trade collaboration, focusing on the steel sector, according to industry leader Naveen Jindal. The partnership is expected to improve input security and boost economic growth. The collaboration on coking coal, critical for steel production, presents vast opportunities amid unchanged US tariffs.

Deeper collaboration between India and the US is set to bolster input security for the domestic steel sector, according to industry leader Naveen Jindal. Speaking to PTI, he noted that a stronger trade partnership could significantly boost competitiveness, exports, and overall economic growth.

The renewed momentum in India-US trade engagement follows discussions between Prime Minister Narendra Modi and US President Donald Trump, generating positive signals for business confidence. Despite the unchanged US Section 232 tariffs on steel, collaboration on coking (metallurgical) coal offers tangible benefits, Jindal highlighted.

Coking coal, a vital raw material for steel production, sees the US supplying around 9.4 million tonnes or nearly 15% of India's requirements. This import is crucial as it enhances input security, reduces concentration risk, and strengthens both steel and engineering supply chains. With bilateral trade topping USD 190 billion annually, continued leadership engagement promises growth, job creation, and innovation across industries.