India Prioritizes Domestic Steel: Crackdown on Substandard Imports
In a move to protect domestic steel manufacturers and ensure the quality of steel used within the country, India is increasing scrutiny on imported steel, particularly from China, Vietnam, and Japan. This initiative reinforces the government’s commitment to the ‘Make in India’ campaign.
Ministry of Steel Targets Mislabeled and Subpar Imports
Over the past year, the Ministry of Steel has discovered a concerning trend of imported steel failing to meet quality standards. Traders have been found misrepresenting the grade and composition of imported steel to bypass regulations, potentially jeopardizing the safety and integrity of construction projects and manufactured goods.
Short-Term Relief Expected as ‘Make in India’ Takes Center Stage
This increased scrutiny is expected to offer some short-term relief to domestic steel producers while the focus shifts towards strengthening the ‘Make in India’ initiative. The government aims to create a self-reliant steel industry by encouraging domestic production and reducing dependence on potentially unreliable imports.
