Indian steel manufacturers are calling on the government to limit rising steel imports, mainly from China, which has produced six times India’s output this year. The influx of cheap imports has pushed domestic prices to a five-year low and led to significant underutilization of local capacity. Although the government has enforced quality controls and safeguard duties, further measures are likely as industry leaders meet NITI Aayog to discuss support for local producers. This import pressure threatens profitability for Indian firms and could impact the overall health of the country’s manufacturing sector if not addressed soon.
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