Tata Steel’s managing director, TV Narendran, advocated the implementation of safeguard duties on imported steel aimed at protecting India’s steel sector from the impacts of tariff increases imposed by the US.
” It’s not that India is exporting a lot of steel to the US, but the steel which used to end up in US will now land somewhere else in the world, and that will impact India indirectly. Hence, we are seeing most countries taking action to protect themselves,” said Narendran at the NAsscom Technology and Leadership Forum 2025 on Tuesday.
Narendran said that the India Steel Association opted for a safeguard duty over an anti-dumping duty due to quicker implementation timelines after President Trump’s announcement on the two proclamations, one specifically on reinforcing a 25% duty on steel and aluminium imports without exemptions.
The lack of protective measures over a long period of time could affect the industry’s investment strategies, according to Narendran, as he noted that the reduced margins and disrupted cash flows could have an adverse impact on capex decision.