Govt guarding steel industry from dumping, says Goyal

MUMBAI: India is poised to contribute significantly to global steel demand, commerce and industry minister Piyush Goyal said on Friday, while emphasising that govt has been able to protect the domestic steel industry from unfair dumping and irrationally low pricing.

Speaking on sidelines of the Steel India event here, hosted by ministry of steel and industry body Ficci, Goyal also said both exporters and the MSME sector will continue to get steel at international prices. "India is consistently focused on self-reliance. But when we talk about Atmanirbharta, we are not closing the doors to the world. We are in fact opening the doors wider because every country will have its competitive advantages for different products."

On govt's recent imposition of a 12% safeguard duty on steel imports, he said that PM Narendra Modi's govt is always vigilant and proactive to support Indian industry against unfair trading practices. "But we also balance the demands and needs of the customer. And therefore. We have been able to protect the steel industry from unfair dumping of steel," Goyal said.