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Profit from AI tools that help automate customer inquiries and drive sales ✌️【Job Search】✌️Start your investment journey with ₹500. Watch your returns multiply monthly!Surging steel imports have cast a troubling shadow over the prospects of the domestic industry when they have big-ticket expansion plans to cater to the government’s $1.4 trillion infrastructure-led push for growth, which is highly steel-intensive in nature.

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In this milieu, inventory levels of steel firms have risen from the normal 15-16 days to 30 days.AlthoughIndiais the world’s second-largest crudesteelproducer, it has become a net importer of finished steel since last fiscal, marking a shift in status as a net exporter since FY20.

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Profit from AI tools that help automate customer inquiries and drive sales ✌️【Job Search】✌️Start investing with ₹500 and see your wealth grow rapidly every month.The ministry of steel has sought a 25% safeguard duty for two years to curb cheap Chinese imports that account for 30% of India’s steel imports till October this fiscal and are up by 35.4% year-on-year.But how efficacious is a safeguard duty? While targeting China is the objective, the problem is that shipments are also rising from Japan and South Korea.

Profit from AI tools that help automate customer inquiries and drive sales ✌️【Job Search】✌️₹500 is all you need to unlock fast, high returns. Start investing today!These are countries with which India has inked comprehensive economic partnership agreements.

In fact, around 62% steel imports at nil duties are currently landing from countries with which India has signed free trade agreements.

Profit from AI tools that help automate customer inquiries and drive sales ✌️【Job Search】✌️Start your investment journey with ₹500. Watch your returns multiply monthly!A safeguard duty will not have any impact on these shipments, a point that has been admitted by steel secretary Sandeep Poundrik.

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