Steel Ministry proposes 25% safeguard duty on steel imports

New Delhi: Taking up the concerns of domestic steel industry, the steel ministry on Monday proposed for a 25 percent safeguard duty on import of certain steel items into the country.

The proposal came at a meeting between Union Minister of Steel H D Kumaraswamy and Commerce and Industry Minister Piyush Goyal in the national capital, sources said.

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Senior officials from both the ministries and executives of top steel making companies like SAIL, Tata Steel, JSW Steel and AMNS India also attended the meeting, they said.

"Held a meeting with stakeholders from the steel and metallurgical coke industries along with my colleague & Minister of Heavy Industries and Steel @HD_Kumaraswamy ji," Goyal said in a post on X.

"With both industries playing a vital role in India's development journey, discussed ways to boost production, enhance quality, and further strengthen global competitiveness," the minister said.

According to Kumaraswamy, the two ministries discussed ways to collaborate and ensure ease of doing business for domestic players.

"We discussed ways for our ministries to collaborate and ensure ease of business for the steel and heavy industries, key sectors driving India's growth," Kumaraswamy wrote on X.

"Strengthening the steel and heavy industries sector is critical for building a self-reliant India, and we will work tirelessly to create an enabling environment for its growth and global competitiveness," he said, adding, "Together, we aim to foster innovation, boost domestic production, and enhance India's position as a global manufacturing hub."

During the meeting, the steel ministry proposed for a 25 percent safeguard duty on steel imports to address the issues being faced by the domestic industry, the sources said.

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