New Delhi, February 17, 2025 — A report suggests that the imposition of safeguard duty on steel imports will have minimal impact on the domestic steel industry. While it may provide temporary relief to local producers, the effect is expected to be limited due to global supply chain dynamics and fluctuations in domestic demand. Experts believe the market will likely adjust without significant disruption to industry growth.
The report further notes that India’s steel sector is heavily driven by demand from construction and infrastructure industries, which continue to grow despite challenges from imported steel. Although the safeguard duty could cause slight price hikes, its long-term impact is expected to be short-lived, as imports constitute a small portion of total consumption. The move is seen as a protective measure, but its long-term effectiveness remains uncertain.
