The Ministry of Finance on Monday announced the imposition of a 12 per cent provisional safeguard duty on certain steel products to protect the domestic industry from injury caused by a recent spike in imports of such products.

       The duty came into effect immediately for a period of 200 days — unless revoked, superseded, or amended earlier, the ministry said in a notification.

       The finance ministry excluded developing countries from the safeguard duties other than China and Vietnam.

       A safeguard duty is a temporary tariff barrier imposed by a country to protect its domestic industry from a surge in imports.

       The development came amid the risk of a further surge in steel imports following the 25 per cent tariff on steel and aluminium imposed by the US, which came into effect on March 12. The imposition of the duty is mainly aimed at protecting the industry from cheap Chinese steel imports.

       Also Read

       Premium

       Metal stocks shine: HZL, SAIL, JSW Steel rally up to 10% on safeguard duty

       Nomura bullish on Indian steel industry; maintains 'Buy' on JSW Steel, JSPL

       Premium

       Commerce department examining steel ministry request on safeguard duty

       Delhi High Court seeks response from CCI and Zomato on NRAI plea

       Premium

       No-contest clause in Ratan Tata's will raises questions on legal validity

       The finance ministry’s order came a month after the Directorate General of Trade Remedies (DGTR) under the Ministry of Commerce and Industry recommended a 12 per cent safeguard duty on certain steel products for a period of 200 days.

       Steel Minister H D Kumaraswamy said the imposition of the safeguard duty would protect Indian manufacturers, ensure fair competition, and boost India’s domestic industry.

       T V Narendran, chief executive officer and managing director, Tata Steel, welcomed the government’s decision to impose a safeguard duty on certain steel imports.

       “This is a critical step in addressing the surge of unfairly priced imports to India. As we have highlighted before, unchecked imports — especially from countries with significant excess capacity — threaten domestic manufacturing, employment, and future investments. This decision will help restore fair competition, ensure the industry’s long-term sustainability, and support India’s vision of a self-reliant and globally competitive steel sector,” Narendran said.

       Connect with us on WhatsApp

       More From This Section

       We hope to sign first phase of bilateral pact with US by Oct: FM Sitharaman

       EPFO registered 1.61 million net members in February 2025, shows data

       India to impose 12% temporary tariff on steel to curb cheap China imports

       India to generate 8 mn jobs per year for next 10-12 years: CEA Nageswaran

       India should restore soybean exports to US in bilateral trade talks: SEA