The Indian steel industry is in talks with the Indian government regarding trade measures to check rising imports of steel products from China and Vietnam, JSW Steel chief executive officer (CEO) Jayant Acharya said in a statement on Tuesday, July 23.
“The Indian steel industry is in discussion with the government. I think there are measures which we would be requesting the government to take up,” Mr. Acharya said, without elaborating on the possible measures being discussed.
India became a net steel importer in the fiscal year that ended in March this year and the trend continues with its finished steel imports scaling a five-year high in April and May, according to provisional government data.
This year, JSW Steel expects its exports to account for 10-15 percent of its total sales, Acharya said, adding that international markets are “muted” at present, while demand in India is “extremely strong”.