Narendran Seeks Safeguard Duty Against Cheap Imports, Discusses Future Plans
Key Points:
- CEO calls for measures against China’s below-cost steel exports
- Steel Ministry proposes customs duty hike from 7.5% to 15%
- Company invests ₹15,000 crore in ISWP’s new Combi Mill project
JAMSHEDPUR – Tata Steel CEO T.V. Narendran voiced concerns over China’s aggressive steel pricing during the New Year celebrations at Centre for Excellence.
Chinese manufacturers export steel at loss-making prices. This practice creates unfair market competition globally.
Industry Protection Measures
The Steel Ministry seeks doubled customs duty. Government considers 25% safeguard duty on steel imports.
Domestic steel demand shows 8% growth. Private sector investments reach ₹50,000 crore annually.
Investment and Expansion
The ISWP Combi Mill nears completion. Operations will begin within three months.
New projects include Tinplate investments. The company adds an electric furnace to its facilities.
Future Challenges
Four legacy iron ore mine leases expire by 2030. The company prepares strategies to maintain competitiveness.
Narendran emphasizes Jamshedpur’s development needs. He calls for citizen participation in city maintenance.
The Kalinganagar plant operates efficiently with 4,000 employees. It produces 8 MTPA across 100 acres.
