SAIL’s endeavour to empower india

The Indian steel industry believes that there is a need for levying anti-dumping duties on cheap and low quality steel and stainless steel imports, and the government is supporting and safeguarding the domestic industry by introducing duties, which were showcased at the India International Trade Fair, 2016 (IITF).

ESSAR Steel and Jindal Stainless Management Services were the part of the Ministry of Steel Pavilion at the 36th edition of India International Trade Fair, 2016 (IITF). The other steel companies which are a part of the pavilion are Ferro Scrap Nigam Limited (FSNL), Hindustan Steelworks Construction Limited (HSCL), Joint Plant Committee (JPC), JSW Steel,   Metal Scrap Trade Corporation Ltd (MSTC), National Mineral Development Corporation (NMDC), Rashtriya Ispat Nigam Limited (RINL), Steel Authority of India Ltd (SAIL) and TATA Steel.

The government has supported them and introduced several duties with which it is trying to safeguard the domestic industry. Pricing is one and quality is another aspect of anti-dumping. Supporting the government’s move to curb cheap imports from countries like China and Australia, Steel Authority’s anti-dumping duty is already there on steel and stainless steel. In this way, the government is helping the industry and domestic market.

Another great initiative by the ministry of steel was coming up with the idea of a single pavilion for leading public and private steel companies of India. It not only brings the entire industry on a single platform but also helps in saving cost. Steel Authority very artfully showcased how this versatile alloy has become an important part of our society. Everybody is using steel in one way or the other, like in a city, everything from buildings to airports and from metro to roadways, incorporates steel in some manner. As the steel industry is fond of saying, steel is everywhere in our lives. 

The Indian Steel Industry is continuing to buck the global trend of slowdown in steel production by maintaining the growth momentum. The government of India has taken decisions to provide an enabling environment for growth of Indian steel industry, and the government is keeping a constant vigil on external and internal growth drivers, constraints and changes in dynamic world steel market.  

With renewed emphasis on infrastructure development and other related sectors, steel is likely to be in demand in the coming years for meeting the requirements of a vibrant and strong Indian economy.