Majority of steel imports under FTAs, making any duty hike ineffective, says steel secy
India's steel industry is grappling with a surge in imports, primarily from countries with free trade agreements (FTAs). These duty-free imports constitute a significant portion of total steel imports, rendering tariff adjustments ineffective in curbing the influx. Despite increased demand, the surge in imports has led to a supply glut, impacting domestic steel producers.