To levy, or not to levy tariffs? Budget’s tightrope for steel sector amidst a flood of Chinese imports

Quick Summary:

The flood of cheap Chinese steel has severely impacted smaller Indian mills, forcing them to reduce operations and consider layoffs.

MSMEs expect Budget 2025 to provide a solution to this problem.

The imports of finished steel rose from 4.67 million tonnes in 2021-22 to 8.32 million tonnes in 2023-24, the official data showed.

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Article Details

Author / Journalist: Ashish Pandey

Category: Business

Markets: IndiaChinaVietnam

Topics: Steel imports Budget 2025 Steel trade Steel Customs Duty

Source Website Secure: Yes (HTTPS)

News Sentiment: Neutral

Fact Checked: Legitimate

Article Type: News Report

Published On: 2025-01-14 @ 10:44:01 (1 days ago)

News Timezone: GMT +8:00

News Source URL: economictimes.indiatimes.com

Language: English

Article Length: 1695 words

Reading Time: 10 minutes read

Sentences: 53 lines

Sentence Length: 32 words per sentence (average)

Platforms: Desktop Web, Mobile Web, iOS App, Android App

Copyright Owner: © Economic Times

News ID: 25148222

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About Economic Times

Main Topics: Business

Official Website: economictimes.indiatimes.com

Year Established: 1961

Headquarters: India

News Last Updated: 1 days ago

Coverage Areas: India

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