Naveen Jindal Praises 12% Safeguard Duty on Steel Imports

Industrialist and Member of Parliament Naveen Jindal has praised the Indian government for introducing a 12% safeguard duty on steel imports. He said this decision will protect Indian steel manufacturers from unfair foreign competition and help strengthen the domestic steel industry.

Jindal, who is also the Chairman of Jindal Steel and Power, welcomed the move and said it shows the government’s commitment to supporting Indian industries. According to him, many countries were selling steel in India at very low prices, which was hurting local producers. The new duty will make imported steel more expensive, giving Indian companies a fair chance to compete.

He added that Indian steel companies are capable of producing high-quality steel to meet the country’s needs. However, they have struggled in recent years because of cheap imports from other countries, especially China. The safeguard duty will now help level the playing field and give local producers the confidence to invest more in technology and capacity.

Jindal also pointed out that protecting the steel industry is important for the entire economy. Steel plays a key role in construction, manufacturing, and infrastructure development. If the domestic steel industry stays strong, it can support India’s growth in these important sectors. He said the duty will not only protect jobs but also encourage more production within the country.

He urged the government to continue monitoring the market and take similar steps in other sectors where Indian businesses face unfair competition from abroad. Jindal said that such proactive decisions would help India become more self-reliant and support the “Make in India” initiative.

In conclusion, Naveen Jindal fully supports the government’s decision to impose a 12% safeguard duty on steel imports. He believes the move will protect Indian steelmakers, reduce unfair trade practices, and boost the growth of the domestic industry.