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Indian stainless steel sector drowning in Chinese imports

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4 years ago

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The first half of 2021-22 has seen a 185 per cent increase in stainless steel imports compared to the average monthly imports in the last fiscal, creating havoc for the Indian players.

The import tide of stainless steel from China and Indonesia is fast turning into a deluge destroying many companies on its way, and threatening the very existence of the small, medium and micro industries in India. After all, the first half of 2021-22 witnessed a staggering 185% increase in import volumes of stainless steel flat products compared to the average monthly imports in the last fiscal, fuelled mostly by surge in Chinese and Indonesian imports.

The two countries China and Indonesia, which increased their exports by 300 per cent and 339 per cent, respectively, in the first half of this fiscal compared to the average monthly imports of the last fiscal, now have a share of 79 per cent of the total stainless steel flat product imports in the first half of FY22. It is a significant jump compared to the 44 per cent share in FY21. The average per month imports has jumped from 34,105 tonnes per month in FY21 to 63,154 tonnes per month this current fiscal–FY 22.

Indonesia’s imports share, which was virtually non-existent in 2016-17, has climbed to 23 per cent in the first half of this fiscal, with its average monthly exports increasing from 4,355 tonnes/month in the last fiscal to 14,766 tonnes/month in the first half of this fiscal. China’s average monthly exports too has jumped from 10,697 tonnes/month in the last fiscal to 35,269 tonnes/month in the first half of this fiscal.

The surge in imports was the result of the Finance Ministry’s decision of September 30, 2021 to revoke the imposition of CVD on China (September 2017) and end provisional duties on Indonesia (October 2020), which was based on the recommendations of the Director-General of Trade Remedies (DGTR), after a detailed investigation. The investigation had revealed that the two countries were resorting to non-WTO compliant subsidies to boost their exports to India and causing injury to Indian manufacturers.

In fact, the DGTR and their global counterparts had conclusively proved in its final finding that both these countries provide non-WTO compliant subsidies to the tune of 20 per cent to 30 per cent to their stainless steel manufacturers. And, these subsidies have created an imbalance in the Indian and international markets, reduced the competitiveness of Indian products in the domestic industry, causing material injury and persistent financial stress for home-grown businesses. It has forced the domestic industry to seek redressal from the surge in imports.

In fact, in India a disaggregated study of imported products in the first half of the current fiscal also reveals how excessive dumping has taken place in a particular J3 grade of stainless steel in the country. Imports of J3, a subsidised and dumped 200 series grade of stainless steel, with about 1 per cent nickel and 13 per cent chromium from China, has jumped from an average of 1,779 tonnes/month in 2019 to an average of 4,425 tonnes/month in 20-21 (249 per cent increase) and to average 25,346 tonnes to in just six months of 2021-22 (1,424 per cent) increase compared to the same period last year.

The share of this grade in total imports from China increased 23 per cent in 2019-20 to 72 per cent in 2021-22. Much of this import is even below the scrap prices and it hurts the MSME sector, the hardest. Such dumping also means major losses in terms of national exchequer through tax evasion and revenue losses.

This onslaught of Chinese exports to India has decimated the micro, small and medium enterprises (MSME), which had to bear the brunt of the impact. In fact, the imposition of provisional CVD on Indonesia in October 2020 and CVD on China in place from September 2017, had provided a “level-playing field” to these players, which got a much-needed relief from the dumped subsidised imports. The MSME, an industry having the capacity to produce about 1.2 lakh tonnes of hot and cold-rolled flat products, was able to operate at 90 per cent plus capacity utilization between October 2020 to February 2021.

However, the MSME sector suddenly finds itself grasping for breath to survive after the announcements of the 2021-22 Budget. Small-scale stainless- steel rollers and re-rollers, who make ingots from recyclable scrap as the first step in stainless- steel product manufacturing, and then produce hot and cold rolled materials for the all-India market, find themselves swamped by a massive and subsidised surge of imports from China and Indonesia.

Today, more than 80 induction furnaces and 500 patti/patta units, which provides primary raw materials for various downstream industries, are in dire straits. These downstream industries manufacture a variety of stainless steel household goods such as kitchenware, tableware, cooking range, sanitary items, cutlery pots, etc.

Prakash Jain, President, All India Stainless Steel Cold Roller Association, says: “The smaller Indian stainless steel players finds it virtually impossible to compete with the state-subsidised Chinese players, who get an 18 per cent incentive to export, under invoice their products by changing the label of the products to avoid paying duties and sell it at Rs 15 to Rs 17 per tonne cheaper in the Indian market.”

According to Jain, Gujarat has 70 rolling mills, each employing around 300 people and 50 induction furnaces, which makes ingots, the raw material for rolling mills and employs 500 each.

Not only will many of these jobs be lost resulting in massive unemployment but force many manufacturers to turn traders unless the CVD is imposed on imports from China and Indonesia.

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Union Cabinet approves Pune Metro Rail Project Phase 2 with Rs 9,857 crore outlay

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10 hours ago

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November 26, 2025

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New Delhi, Nov 26: In a major boost for the public transport network in Pune, the Union Cabinet, chaired by Prime Minister Narendra Modi, on Wednesday approved Line 4 (Kharadi–Hadapsar–Swargate–Khadakwasla) and Line 4A (Nal Stop–Warje–Manik Baug) with Rs 9,857.85 crore outlay under Phase 2 of the Pune Metro Rail Project.

According to the Cabinet, this is the second major project approved under Phase-2, following the sanction of Line 2A (Vanaz–Chandani Chowk) and Line 2B (Ramwadi–Wagholi/Vitthalwadi). With this latest approval, Pune Metro’s network will expand beyond the 100-km milestone, a significant step in the city’s journey towards a modern, integrated, and sustainable urban transit system.

Spanning 31.636 km with 28 elevated stations, Line 4 and 4A will connect IT hubs, commercial zones, educational institutions, and residential clusters across East, South, and West Pune.

The project will be completed within five years at an estimated cost of Rs 9,857.85 crore, to be jointly funded by the Centre, the Maharashtra government, and external bilateral/multilateral funding agencies.

These lines are a vital part of Pune’s Comprehensive Mobility Plan (CMP) and will seamlessly integrate with operational and sanctioned corridors at Kharadi Bypass and Nal Stop (Line 2), and Swargate (Line 1).

“They will also provide an interchange at Hadapsar Railway Station and connect with future corridors towards Loni Kalbhor and Saswad Road, ensuring smooth multimodal connectivity across metro, rail, and bus networks,” a Cabinet communique said.

The project will be implemented by the Maharashtra Metro Rail Corporation Limited (Maha-Metro), which will carry out all civil, electrical, mechanical, and systems works.

Pre-construction activities such as topographical surveys and detailed design consultancy are already underway, according to the Cabinet.

According to projections, the daily ridership on Line 4 and 4A combined is expected to be 4.09 lakh in 2028, rising to nearly 7 lakh in 2038, 9.63 lakh in 2048, and over 11.7 lakh in 2058.

Of this, the Kharadi–Khadakwasla corridor will account for 3.23 lakh passengers in 2028, growing to 9.33 lakh by 2058, while the Nal Stop–Warje–Manik Baug spur line will rise from 85,555 to 2.41 lakh passengers over the same period.

These projections highlight the significant growth in ridership expected on Line 4 and 4A over the coming decades.

With Line 4 and 4A, Pune will not just get more metro tracks but will also gain a faster, greener, and more connected future. These corridors are designed to give back hours of commuting time, reduce traffic chaos, and provide citizens with a safe, reliable, and affordable alternative.

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Assam saw major drop in child marriage cases under BJP govt: CM Sarma

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12 hours ago

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November 26, 2025

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Guwahati, Nov 26: Assam Chief Minister Himanta Biswa Sarma on Wednesday underscored a “major turnaround” in the state’s battle against child marriage, saying a combination of stringent enforcement and systemic reforms has led to significant declines in the underage marriages and boosted legal accountability.

CM Sarma claimed that according to NFHS‑4 (2015-16) data, 31.8 per cent of women in Assam aged 20–24 were married before turning 18 – a rate that exceeded the national average.

Moreover, district-level fact sheets had recorded alarming prevalence in districts such as Dhubri, South Salmara, Barpeta and Nagaon, as high as 40–55 per cent.

However, the state now claims a decisive shift. Between 2023 and 2024 alone, more than 8,600 arrests were made in coordinated crackdowns under both the Protection of Children from Sexual Offences Act (POCSO) and the Prohibition of Child Marriage Act (PCMA).

According to the Chief Minister, in 2022 the number of cases registered stood at 224, sharply up from just 149 in 2021, indicating a steep rise in enforcement.

CM Sarma said, “Beyond arrests, Assam has formed district-level task forces, headed by superintendents of police, to track and intercept impending child marriages. Community-level workers – including ASHAs, Anganwadi staff and schoolteachers – are now required to report suspected cases in real time.”

“Several districts have also reportedly established digital databases and child-protection tracking mechanisms,” he added.

The CM claimed that these measures have borne fruit: In hotspot districts, the incidence of child marriage fell by 8–17 per cent within a year, and more than 3,000 planned child marriages were prevented in 2023–24 alone.

Notably, the Assam government’s recent actions – from sustained crackdowns to setting up institutional safeguards – reflect a far more aggressive stance on child marriage than seen in earlier years, when the practice was largely treated as a social issue rather than a crime.

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Revanth Reddy urges PM Modi to declare Bengaluru-Hyderabad as defence & aerospace corridor

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15 hours ago

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November 26, 2025

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Hyderabad, Nov 26: Telangana Chief Minister A. Revanth Reddy, on Wednesday, appealed to Prime Minister Narendra Modi to declare Bengaluru-Hyderabad as a defence and aerospace corridor.

The Chief Minister said this during the inauguration of the French aerospace major Safran’s largest MRO centre for the CFM International LEAP engines in Hyderabad.

The Chief Minister stated that declaring Bengaluru-Hyderabad as a defence and aerospace corridor will contribute to Viksit Bharat.

The Safran Aircraft Engine Services India (SAESI) facility at the GMR AeroPark (SEZ) near Shamshabad will be operational in 2026.

The Chief Minister congratulated Safran for choosing Hyderabad for a big investment and thanked it for its trust and continued partnership with Telangana.

He stated that this new facility marks an important milestone for Telangana’s growth in the aerospace and defence sector.

Revanth Reddy noted that this is the first-ever Maintenance, Repair and Overhaul (MRO) centre for LEAP engines in India. Set up with an investment of ₹1,300 crore, the centre will employ over 1,000 skilled technicians and engineers, while also generating new business opportunities for local MSMEs and precision engineering firms, he said.

He said that the foundation stone was also laid today for Safran’s M88 Military Engine MRO, which will support both the Indian Air Force and the Indian Navy.

The Chief Minister emphasised that Hyderabad has emerged as a major aerospace and defence hub, home to more than 25 major global companies and over 1,500 MSMEs. He added that Telangana’s progressive industrial and MSME policies are ranked among the best in India.

He said that Hyderabad’s world-class infrastructure, aerospace parks and SEZs continue to attract mega investments from leading global companies, making the city a top choice for highly complex precision engineering projects.

He noted that Hyderabad is already a preferred destination for companies such as Safran, Boeing, Airbus, Tata, and Bharat Forge for manufacturing and R&D activities, and has become one of India’s leading MRO and aero-engine hubs.

The Chief Minister highlighted that Telangana’s aerospace and defence exports doubled last year, reaching ₹30,742 crore in just nine months, surpassing the state’s pharma exports for the first time.

He also mentioned that Telangana has consistently won the Best State Award for Aerospace from the Ministry of Civil Aviation.

He underscored that skilling is a key factor in attracting aerospace investments. Telangana has upgraded 100 Industrial Training Institutes into Advanced Technology Centres in partnership with Tata Technologies, ensuring youth are job-ready for advanced manufacturing.

He added that the Young India Skills University is offering specialised training in aircraft maintenance and invited Safran to be a lead partner in aerospace and MRO skilling initiatives.

Reaffirming Telangana’s commitment to supporting partners like Safran with world-class infrastructure, the Chief Minister spoke about the upcoming Bharat Future City, being developed across 30,000 acres as a planned, fully green, net-zero global destination – India’s answer to New York, Tokyo, Dubai and Singapore.

He extended an invitation to the Prime Minister to attend the ‘Telangana Rising 2047 – Global Summit’ at Bharat Future City on December 8 and 9, where the state’s long-term vision will be unveiled. Telangana aims to become a $1 trillion economy by 2035 and a $3 trillion economy by 2047.

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