Goyal urges Japanese firms to buy steel from India
Commerce and Industry Minister Piyush Goyal on Monday urged Japanese firms to source steel from India, saying Indian companies manufacture high-quality products.
He said India imposed only a 12 per cent safeguard duty on low-grade steel compared to higher duties imposed by countries including the US (50 per cent), UK and European Union.
Answering questions on the safeguard duty during a roundtable meeting with Japanese businesses here, Goyal said India has taken a balanced approach by imposing the safeguard duty only on lower grades of steel, and higher grades can be imported freely.
“Those steel products that are manufactured in India, why do you want to import (buy) from Japan?” Goyal said, adding India has extended protection to its domestic industry from the impact of excess capacity in certain countries.
Indian industry has flagged concerns over excess capacity of steel in countries like China.
He said countries across the world are experiencing surplus steel capacity and are consequently taking safeguard measures to protect their domestic industries.
In December 2025, India announced safeguard duty on imports of certain steel products for three years, with the aim to curb dumping from countries like China and protect domestic manufacturers from a supply glut.
The duty, first imposed as a temporary 12 per cent levy for 200 days in April 2025, is in force until April 2028.
The 12 per cent duty was levied in the first year (April 21, 2025 to April 20, 2026), which was reduced to 11.5 per cent in the second year (April 21, 2026 to April 20, 2027), and further it will be lowered to 11 per cent in the third year (April 21, 2027 to April 20, 2028).
“India even today is a net importer of steel. So we have enough scope to expand our capacity, in fact, double our capacity and people are investing money. When they are investing money, they want protection, so that tomorrow they do not face dumping,” he said.
Goyal said he has been urging Japanese industry over the last seven years to source from India at least those steel products that are competitively priced and meet Japanese quality standards.
“Even if they are cheaper or of the same quality as Japanese steel...somehow they do not buy from India,” he said.
Goyal questioned how India could be expected to protect foreign companies from trade measures when they do not support Indian domestic producers by sourcing from the country.
“It’s a matter of concern for me, that’s not a fair trade,” he said, suggesting the Japanese firms to approach the Directorate General of Trade Remedies (DGTR) on the anti-dumping and safeguard duty-related issues.
He also said the safeguard duty is in line with World Trade Organization (WTO) rules.
Goyal is leading a 200-member business delegation here to discuss ways to boost trade and investment ties between the two countries.
He will also travel to Nagoya and Osaka. In Nagoya, the industrial heartland of central Japan, the minister will lead a roadshow with Chukeiren (Central Japan Economic Federation) and the Nagoya Chamber of Commerce & Industry, and engage with Aichi Prefecture leadership and major manufacturing investors in the automotive and steel sectors.
