India’s stainless-steel manufacturers, led by industry giant Jindal Stainless, are urging the government to impose anti-dumping duties on low-cost imports that have flooded the domestic market, posing a significant threat to local producers.
According to a report by The Economic Times, the industry is witnessing a sharp uptick in imports of stainless-steel products, particularly from China and Indonesia, at rates well below prevailing market prices. This has triggered concerns about unfair competition, market distortion, and the long-term viability of domestic stainless-steel production.
The domestic industry has formally petitioned the Ministry of Commerce and Industry to initiate a probe and consider the imposition of anti-dumping tariffs. Industry stakeholders argue that such duties are essential not only to protect local manufacturers but also to uphold investor confidence, safeguard jobs, and ensure market stability amid volatile global trade dynamics.
India is the second-largest producer of stainless steel globally, and its manufacturers have invested significantly in technology and capacity over the last decade. However, dumping practices by foreign players threaten to undo these gains, say industry leaders.
“Without swift corrective action, the Indian stainless-steel sector will struggle to remain competitive, and the ripple effects could be felt across the broader manufacturing and infrastructure ecosystem,” said a senior executive at Jindal Stainless.
The government is expected to review the petition in the coming weeks. If approved, anti-dumping duties could level the playing field and reinforce the Make in India initiative, aligning with broader goals of self-reliance and economic resilience.
