‘Steel import curbs hurt MSMEs’ competitiveness’

• EEC India, representing engineering goods producers, warns that domestic steel output has not kept pace with consumption, affecting smaller engineering firms’ competitiveness.

• Domestic steel output has increased by about 5% between April and August, but consumption has climbed 13.8%.

• China’s finished steel imports have risen 31.7%, while imports from Japan and Vietnam have also grown.

• The “Make in India” initiative will face challenges without affordable inputs like steel, highlighting the need to keep domestic steel prices competitive.

• The price differential between Chinese and Indian-produced steel is significant, enabling downstream industries, especially MSMEs, to remain competitive