Govt should curb imports of stainless steel
Govt should curb imports of stainless steel
Like other manufacturing sector in India, stainless steel industry has also been facing extreme difficulty in the last few years. Based on expectations of 7-8 percent economic growth, the Indian stainless steel industry has made substantial investments towards capacity expansion and modernisation. However, these investments now stand in great jeopardy because of the surge in imports, especially from China.
Imports of stainless steel flat products have risen from 324,460 metric tonne (MT) in 2013-14 to the highest ever record of 459,164 MT in 2014-15 registering 41 percent growth. Imports from China have more than doubled from 111,764 MT in 2011-12 to 231,602 MT in 2014-15. China now accounts for more than 50 percent of the import basket. This is the single largest threat for the industry today. This has led to the domestic stainless steel industry having low capacity utilisation of less than 50 percent.
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Govt should curb imports of stainless steel
Govt should curb imports of stainless steel
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N C Mathur July 3, 2019 Last Updated at 15:44 IST
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Like other manufacturing sector in India, stainless steel industry has also been facing extreme difficulty in the last few years. Based on expectations of 7-8 percent economic growth, the Indian stainless steel industry has made substantial investments towards capacity expansion and modernisation. However, these investments now stand in great jeopardy because of the surge in imports, especially from China. Imports of stainless steel flat products have risen from 324,460 metric tonne (MT) in 2013-14 to the highest ever record of 459,164 MT in 2014-15 registering 41 percent growth. Imports ...
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Govt should curb imports of stainless steel
Govt should curb imports of stainless steel
Govt should curb imports of stainless steelLike other manufacturing sector in India, stainless steel industry has also been facing extreme difficulty in the last few years. Based on expectations of 7-8 percent economic growth, the Indian stainless steel industry has made substantial investments towards capacity expansion and modernisation. However, these investments now stand in great jeopardy because of the surge in imports, especially from China.
Imports of stainless steel flat products have risen from 324,460 metric tonne (MT) in 2013-14 to the highest ever record of 459,164 MT in 2014-15 registering 41 percent growth. Imports from China have more than doubled from 111,764 MT in 2011-12 to 231,602 MT in 2014-15. China now accounts for more than 50 percent of the import basket. This is the single largest threat for the industry today. This has led to the domestic stainless steel industry having low capacity utilisation of less than 50 percent.
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