Steel Secretary Sandeep Pondrik affirmed the government's commitment to ensuring fair steel prices and quality, highlighting the 12% safeguard duty on imports. Aiming for 300-million-tonne production by 2030, India is implementing quality control orders and BIS standards. PM Modi addressed raw material security concerns, urging global partnerships. View More

The government is taking all measures to ensure that the quality and price of steel are "right", Steel Secretary Sandeep Pondrik said on Thursday even as he sounded confident of the country achieving the target of having 300-million tonnes steel production by 2030. Talking to PTI on the sidelines of the Steel India 2025 event here on Thursday, Poundrik defended the 12 per cent safeguard duty on steel imports. "The government has already imposed a safeguard duty. It will be appropriately modified as per recommendation of DGTR. We are also ensuring that only quality steel comes into the country and low quality steel doesn't come only because of low price," he said. To achieve that, he said, "we are bringing most of the grades of steel in quality control orders and BIS standards". "So, we are taking all measures to ensure that the quality and price of steel is right," Poundrik added. India on Monday imposed a 12 per cent provisional safeguard duty for 200 days on certain steel products to protect domestic players from surge in cheap imports. Live Events The decision follows a recommendation for the same by the commerce ministry's investigation arm DGTR. Last month, it was suggested that the duty be imposed. "The safeguard duty has been imposed by government based on the recommendation of Director General of Trade Remedies, who has recommended 12 per cent safeguard duty, that was done to prevent injury to the domestic industry because low-cost steel was being dumped in the country as per the investigation of DGTR," he said. Stating that this is provisional duty that will be applicable for 200 days, he said in the meanwhile "DGTR will finalise its investigation, give its final findings to the government and based on that government will take a decision on the rate of the duty as well as the period of the duty up to which it will be implemented". Poundrik also said the government is working on an international cooperation strategy to promote the Indian steel industry by encouraging them to open offices and acquire mining assets abroad and also collaborate on technology. "So we are now encouraging our companies to become international players rather than being only domestic players," he added. Earlier in the day, Prime Minister Narendra Modi in said in a virtual address at the event, that getting raw materials is a "major concern" for the steel sector, and urged all to strengthen global partnerships and secure supply chains. "One major concern is raw material security. We still depend on imports for nickel, coking coal, and manganese. And hence, we must strengthen global partnerships, secure supply chains, and focus on technology upgrades," Modi said. Poundrik said India has added 21 million tonnes capacity of steel to take it to 200 million tonnes from 179 million tonnes last year, adding, "we are expecting that we will reach 300 million tonnes by 2030 (amid) the (expansion) plans of the companies and the projects under implementation, we are confident that we will reach 300 million tonnes." (You can now subscribe to our Economic Times WhatsApp channel) (You can now subscribe to our Economic Times WhatsApp channel)

Urging the steel companies to focus on manufacturing high-grade steel, Modi stressed on the need for a goal of “zero imports” and a focus on net exports View More

Express concern that China may flood the Indian market with excess production View More

Steer World in Bengaluru has introduced the Omega Twin-Screw Extrusion Technology, a breakthrough for recycling previously un-meltable plastics like crosslinked polyethylene (XLPE). This innovation uses patented Fractional Geometry Technology to break carbon linkages, transforming thermoset waste into reusable De-XLPE pellets. This process enables circularity in polymer manufacturing by allowing the production of new wire insulation from recycled materials. View More

In a breakthrough for plastic recycling and sustainable manufacturing, Bengaluru-based Steer World has unveiled the Omega Twin-Screw Extrusion Technology , which could help manufacturers recycle plastics that cannot be melted. Steer World, headquartered in the Peenya Industrial Area of Bengaluru, specialises in materials transformation technologies. Speaking to PTI, Prakash Hadimani, Global Head of the Application Development Centre at Steer World, said crosslinked polyethene (XLPE)-such as the outer layer of cables that covers copper wire-has long been considered non-recyclable. "Traditionally, major players sold these wires in bulk as scrap. Buyers of the scrap would extract the copper and dispose of the shredded plastic, which ends up in landfills," said Hadimani. He explained that although it is technically possible to break down polymers in such plastic waste-also called thermoset waste-using chemicals, the process is intensive, expensive, and environmentally unfriendly. Even bulk producers preferred discarding the waste rather than recycling it. "The process involved chemicals and extensive use of water to neutralise them, making it neither viable nor eco-friendly," Hadimani added. Live Events With Steer World's new technology, he said, it is now possible to break the carbon linkages, softening the polymer into a meltable form. "The Omega Twin-Screw Extrusion uses our patented Fractional Geometry Technology (FGT) to recycle thermoset waste into pellet form," he said. The technology uses a combination of mechanical shear and controlled heat to break the crosslinks in XLPE while preserving its base structure, enabling it to be turned into a reusable form called De-XLPE (Decrosslinked XLPE), Hadimani explained. De-XLPE can then be used to produce insulation for wires, thus enabling circularity in polymer manufacturing, he added. "With this process, we're not just recycling-we're redefining what's recyclable," said Hadimani. "The ability to reclaim and reintegrate thermoset materials like XLPE is a breakthrough the industry has been waiting for," he said. (You can now subscribe to our Economic Times WhatsApp channel) (You can now subscribe to our Economic Times WhatsApp channel)

India is confident in reaching its goal of 300 million tons of steel production capacity by 2030, according to the Steel Secretary. To reduce import reliance and aid local industries, a temporary 12% tariff has been placed on specific steel imports, mainly from China. In fiscal year 2024-25, India's crude steel output was 151.1 million tons. View More

India will achieve its target of expanding steel production capacity to 300 million tons by 2030, the Steel Secretary Sandeep Poundrik said on Thursday, as the government seeks to reduce import dependence and support domestic industry. The country, the world's second-largest producer of crude steel, has imposed a temporary 12% tariff on certain steel imports to counter a surge in cheap shipments, primarily from China. India's crude steel production stood at 151.1 million tons in fiscal year 2024-25 with a total steelmaking capacity of nearly 200 million tons. The country aims to expand crude steel capacity to 300 million tons by 2030-31. India has been a net importer of steel for the last couple of fiscal years and shipments jumped to a nine-year high of 9.5 million tons in 2024-25, according to provisional government data. Live Events (You can now subscribe to our Economic Times WhatsApp channel) (You can now subscribe to our Economic Times WhatsApp channel)

India's imposition of a 12% temporary tariff on specific steel imports aims to curb rising imports, according to JSW Steel's CEO Jayant Acharya. This action follows a surge in finished steel imports, particularly from China, South Korea, and Japan, impacting domestic mills. Acharya suggests the duty creates a fairer environment but its effectiveness needs monitoring. View More

India's move to levy a 12% temporary tariff on some steel imports will help lower imports to an extent, JSW Steel 's chief executive, Jayant Acharya, told Reuters on Thursday. Earlier this week, India, the second-biggest crude steel producer, imposed a temporary tariff, or provisional safeguard duty, on some steel imports for 200 days. This comes as the country's imports of finished steel products rose for a second straight year in fiscal year 2025 -- with imports reaching a nine-year high amid higher shipments from China, South Korea and Japan. An influx of cheaper steel from China has pushed Indian mills to scale back operations and consider job cuts. "What has been done in safeguard is a basic tariff that will provide level playing field for the local industry," Acharya said in an interview, adding that India remains susceptible to low-priced imports. Live Events "We need to see if the 12% (duty) is sufficient or do we need to calibrate the safeguard duty." Acharya also flagged that Europe's plans to tighten steel imports quotas restricts JSW Steel's presence in the region, but did not elaborate. In March, the European Commission said it would tighten import restrictions on steel in a bid to shield the ailing European steel sector from surging imports. Separately, Acharya said JSW Steel is exploring Indian coal assets and will make acquisitions based on strategic and commercial viability. Currently, the company sources coal, a key raw material in steelmaking, from Australia, the United States and Mozambique. (You can now subscribe to our Economic Times WhatsApp channel) (You can now subscribe to our Economic Times WhatsApp channel)

Hindustan Zinc is emphasising galvanization to combat corrosion, which significantly impacts India's GDP. The company launched 'ZungKeKhilaafZinc' to raise awareness about corrosion's widespread effects on infrastructure and the economy. View More

Vedanta group firm Hindustan Zinc on Thursday stressed the adoption of galvanisation, highlighting its role in addressing the critical issue of corrosion , which costs India nearly five per cent of its annual GDP. Hindustan Zinc Ltd ( HZL ), a subsidiary of the Vedanta Group, is a leading zinc-lead producer in the country and a key supplier of zinc used in galvanisation processes, especially for steel structures. Ahead of World Corrosion Awareness Day, the company launched a series of initiatives under its campaign 'ZungKeKhilaafZinc' to raise public awareness about corrosion and its widespread impact. "The campaign underscores the awareness on corrosion, a critical issue that costs India nearly five per cent of its GDP annually, amounting to over $100 billion in preventable losses," the company said in a statement. Corrosion, a natural yet relentless process, deteriorates metals through chemical and electrochemical reactions caused by moisture, oxygen, pollutants, and salts. This leads to accelerated structural damage and threatens key assets such as infrastructure and vehicle bodies. Zinc galvanisation is a proven, scalable solution to prevent such losses by forming a protective barrier that extends metal life and performance. Live Events "Corrosion poses a serious threat to our infrastructure and the nation's economy at large. At Hindustan Zinc, we believe awareness is the first step toward real change. While it's essential for manufacturers to adopt galvanization, consumers also play a vital role by asking the right questions - especially when it comes to long-term investments like homes and vehicles," Hindustan Zinc CEO Arun Misra said. (You can now subscribe to our Economic Times WhatsApp channel) (You can now subscribe to our Economic Times WhatsApp channel)

Australian billionaire Clive Palmer’s Mineralogy Pty has agreed to an expansion of one of the country’s biggest Chinese-run iron ore projects, the latest step in a decades-long spat with owners Citic Ltd. View More

India has slapped a 12% safeguard duty on cheap flat steel imports from China and Vietnam. While this may lift domestic prices in the short term, analysts warn that free trade pacts and global oversupply could blunt its long-term impact. View More

Prime Minister Narendra Modi urged the steel industry to accelerate iron ore mining from unused greenfield sites to boost domestic steel production. He emphasized the need for a collaborative effort to build a strong India, while also encouraging the industry to strengthen global partnerships and secure supply chains. View More

Prime Minister Narendra Modi on Thursday called the industry to "speed up" iron ore mining at unused greenfield mines to increase steel production in the country. The steel industry has to come together, and build a "resilient, revolutionary and steel-strong India", Modi said. Speaking at the India Steel 2025 event virtually, PM Modi also asked the industry players to strengthen global partnerships and secure supply chains , noting that raw material is a challenge for the industry and the country is still dependent on imports. He said the country also needs to explore alternatives like coal gasification and better utilisation of its reserves to reduce coal imports. The industry has to be future ready, and adopt new processes, new grades and new scale, the Prime Minister said. (You can now subscribe to our Economic Times WhatsApp channel) (You can now subscribe to our Economic Times WhatsApp channel)