Union Commerce and Industry Minister Piyush Goyal has urged Japanese companies to source steel from India, highlighting the quality and competitive pricing of Indian products. His remarks came as India continues to implement the India Steel Safeguard Duty to protect domestic steelmakers from excess global capacity and dumping.
India Steel Safeguard Duty Supports Domestic Steel Industry
Goyal said India has taken a balanced approach to steel imports by applying the safeguard duty to certain lower-grade steel products. He noted that higher-grade steel can continue to be imported freely.
India has imposed a 12 percent safeguard duty on certain steel products. Goyal said the rate remains lower than duties imposed by several other countries, including the US.
The move aims to protect Indian steel producers from the impact of excess capacity in global markets. Indian steel companies have raised concerns over surplus production in countries such as China.
Goyal Urges Japanese Firms to Source Steel From India
Goyal said Japanese companies should buy steel from India when domestic products meet their quality and pricing requirements.
He pointed out that India produces steel that meets Japanese quality standards and is competitively priced. He also urged Japanese businesses to increase sourcing from Indian manufacturers.
Goyal said India is still a net importer of steel and has significant scope to expand domestic production. New investments are also being made to increase steel-making capacity.
Safeguard Duty to Remain Until 2028
India first imposed a temporary 12 percent safeguard duty on certain steel products in April 2025. The measure was later extended for three years to address concerns over excess supply and protect domestic manufacturers.
The duty was set at 12 percent for the first year, from April 21, 2025, to April 20, 2026. It was reduced to 11.5 percent for the second year and will fall further to 11 percent for the third year, ending April 20, 2028.
Goyal said the safeguard measures are in line with World Trade Organization (WTO) rules. He also advised Japanese companies to approach the Directorate General of Trade Remedies (DGTR) with concerns related to anti-dumping and safeguard duties.
India-Japan Trade and Investment Ties
Goyal is leading a 200-member business delegation in Japan to strengthen trade and investment ties between the two countries.
During the visit, he will travel to Nagoya and Osaka. In Nagoya, he will lead a roadshow with the Central Japan Economic Federation and the Nagoya Chamber of Commerce & Industry.
The minister will also engage with Aichi Prefecture officials and major investors from the automotive and steel sectors.
