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Informist, Tuesday, Sept. 9, 2025

 

NEW DELHI – The Indian steel industry is responsible for the delay in imposition of safeguard duty on steel products, Commerce and Industry Minister Piyush Goyal claimed Tuesday. The government levied a 12% safeguard duty on steel products in April. 

 

"Possibly, you (the steel sector) deserved the safeguard duty a few months before it was put up. When met coke (metallurgical coke) needed protection, I didn't get support from the steel industry. For a few dollars' savings, you preferred to import met coke and almost brought the met coke industry to its knees. Killed it," Goyal said at a steel association event.

 

Goyal's statement comes as a surprise as the steel sector lobbied the government for months for the safeguard duty. In fact, even after the imposition of the 12% safeguard duty, the industry urged the government to raise the duty to 25%. Currently, the steel sector believes that the 12% safeguard duty is enough for now, and will reach out to the government again if it feels that there is a need to raise the duty.

 

The government is doing everything to help the steel sector, Goyal said. It is also looking at "innovative" ways to mitigate the risks from the Carbon Border Adjustment Mechanism announced by the European Union, a major concern of the sector, Goyal added.   End

 

Reported by Krity Ambey

Edited by Saji George Titus

 

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