According to Reuters, the decision was made on August 13 to prevent imported steel from being sold below cost, putting pressure on prices and profits of domestic producers. India said the measure was necessary to protect production capacity, maintain market share and avoid the risk of factory closures.

Previously, in August 2024, Indian authorities initiated an anti-dumping investigation on some hot-rolled steel coils from Vietnam. The investigation lasted nearly 12 months, collecting data on export prices, domestic prices, import volumes as well as the impact on production and employment in the industry. The results showed that steel imported from Vietnam was priced significantly lower than similar products from India, with a significant dumping margin and causing direct harm to local manufacturers.

Not only imposing taxes on products from Vietnam, the Indian Ministry of Commerce and Industry also left open the possibility of expanding the investigation and imposing anti-dumping taxes on other steel products from many countries, if similar risks of harm are discovered.

The move comes as India steps up trade protectionism to counter the influx of cheap steel into the market. In April 2025, the country imposed a 12% safeguard duty on some steel imports, mainly from China, to curb a surge in foreign steel imports.

Data shows that in fiscal year 2024–2025, India imported 9.5 million tonnes of finished steel – the highest level in nine years and marking the second consecutive year of surplus imports of finished steel. Of which, China is the second largest steel supplier to India, after South Korea.

Experts say that India’s continuous application of both safeguard and anti-dumping duties shows that the country is carrying out a campaign to “tighten” steel imports on a large scale. The goal is not only to protect domestic production and jobs, but also to maintain profits and market share for large steel corporations, which play an important role in the economy.

(Source: Tạp chí Thương Trường)

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