HD Kumaraswamy welcomes 12 pc safeguard duty to shield Indian steel sector

New Delhi, April 21 (IANS) Union Minister for Steel and Heavy Industries, HD Kumaraswamy, on Monday welcomed the Centre’s decision to impose a 12 per cent safeguard duty on the import of certain non-alloy and alloy steel flat products.

This measure is a timely and necessary step to protect domestic steel manufacturers from the adverse impact of import surges and to ensure fair competition in the market.

“This move will provide critical relief to domestic producers, especially small and medium-scale enterprises, who have faced immense pressure from rising imports. The safeguard duty will help restore market stability and reinforce the confidence of the domestic industry,” said the minister.

Kumaraswamy expressed gratitude to Prime Minister Narendra Modi for his leadership and continued support in strengthening strategic sectors under the vision of Atmanirbhar Bharat.

He reiterated that the Ministry remains committed to working with all stakeholders to ensure that the Indian steel sector remains resilient, self-reliant, and globally competitive.

Meanwhile, the combined index of eight core industries increased by 3.8 per cent in March 2025, as compared to the same month of the previous year, according to data released by the Commerce and Industry Ministry.

The production of cement, fertilisers, steel, electricity, coal, and refinery products recorded a positive growth in March this year..

Steel production rose by 7.1 per cent in March over the same month of the previous year on the back of higher construction activity and investment in big infrastructure projects. The growth in steel output for April to March now works out to 6.7 per cent over the corresponding period of the previous year.

India is on a trajectory to achieve steel production capacity of 300 million tonnes (MT) and a per capita consumption of 160 kg by 2030, according to the government.

In FY25 (April to December period), the production of crude steel stood at 110.99 MT and finished steel stood at 106.86 MT.

—IANS

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