Archive · 20 Jul 2025
JSW Steel: Importers Bypassing Steel Import Duty
Imagine India put a tax on steel coming from other countries to help local companies.
Some importers are finding ways to avoid this tax, like using special programs meant for exporting goods.
They're buying cheap steel and selling it here, causing prices to drop even though less steel is being imported.
A big steel company, JSW Steel, is concerned about this and wants the government to fix it.
They also made a lot more money recently because they sold more steel and raw materials got cheaper.
JSW Steel says importers are circumventing a 12% safeguard duty on steel.
Importers are using schemes like Advance Authorization to bypass the duty.
Domestic steel prices have fallen despite strong demand and reduced imports.
JSW Steel expects the government to review the safeguard duty.
JSW Steel's profit tripled in the latest quarter, driven by higher production and sales.
- Who
- JSW Steel and steel importers
- What
- Importers are finding ways to bypass a 12% safeguard duty on steel.
- When
- The safeguard duty was imposed in April. JSW Steel made the comments recently.
- Where
- India
- Why
- Importers are seeking to avoid the safeguard duty, impacting domestic steel prices.
JSW Steel's Perspective
No opposing perspective
Duty Evasion
JSW Steel's Perspective
Importers are finding ways to circumvent the safeguard duty.
No opposing perspective
No opposing view in the article.
- Safeguard Duty
- 12%
- Duty Imposed
- April
- Domestic Price
- Fell to a four-month low of ₹50,700 per tonne in June
- Steel Consumption Growth
- 7% (estimated) compared to the previous quarter
- JSW Steel Profit
- ₹2,209 crore in the last quarter, a tripling of profits from the previous year
- JSW Steel Consolidated Capacity
- 35.7 mtpa