Piyush Goyal Urges Japanese Firms to Source Indian Steel

Commerce and Industry Minister Piyush Goyal urged Japanese firms to source steel from India during a roundtable meeting with businesses in Japan. Leading a 200-member business delegation, Goyal defended India's safeguard duties on low-grade steel, which range from 11% to 12% through April 2028. He argued these measures provide a balanced approach to protect domestic manufacturers from dumping and global excess capacity, specifically citing threats from China.

Goyal noted that India's duties remain lower than those imposed by the European Union, United Kingdom, and United States. He characterized the reluctance of Japanese companies to purchase competitively priced Indian steel as "not a fair trade." To resolve ongoing disputes regarding anti-dumping and safeguard duties, he suggested that companies engage directly with the Directorate General of Trade Remedies.

The minister's visit includes planned roadshows in Nagoya and Osaka to strengthen trade and investment ties. In Nagoya, Goyal is scheduled to meet with the Nagoya Chamber of Commerce & Industry and the Central Japan Economic Federation.