Archive · 26 Aug 2026
Piyush Goyal Urges Japanese Firms to Buy Indian Steel
Piyush Goyal asked Japanese companies to buy steel made in India.
He said Indian companies make good-quality steel.
India has placed a 12% extra duty on lower-quality steel imports.
This duty is meant to protect or manage the market for that type of steel.
Goyal said the United States charges a much higher 50% duty.
He also said the United Kingdom and European Union have higher duties.
India does not place this safeguard duty on higher-quality steel.
Those higher grades can still be imported freely.
Commerce and Industry Minister Piyush Goyal urged Japanese companies to source steel from India.
Goyal said Indian companies manufacture high-quality steel products.
India has imposed a 12% safeguard duty on low-grade steel.
The United States applies a 50% duty, while the United Kingdom and European Union impose higher duties, according to Goyal.
Goyal said higher-grade steel can be imported into India freely.
- Who
- Commerce and Industry Minister Piyush Goyal and Japanese businesses.
- What
- Goyal urged Japanese firms to source steel from India and explained India’s safeguard duty policy.
- When
- During a roundtable meeting; no date was specified.
- Where
- Tokyo, Japan.
- Why
- Goyal said Indian companies produce high-quality steel and described India’s approach to safeguard duties as balanced.
- Speaker
- Piyush Goyal, Commerce and Industry Minister
- Audience
- Japanese businesses
- Recommended action
- Source steel from India
- India’s safeguard duty
- 12% on low-grade steel
- United States duty
- 50%, according to Goyal
- Higher-grade steel
- Can be imported into India freely