Trade ties to boost input security for steel sector: Jindal
The deeper collaboration between India and the US will improve input security for the domestic steel sector, industry leader Naveen Jindal said on Tuesday. A stronger India-US trade partnership can enhance competitiveness, exports and broader economic growth, Jindal, the President of Indian Steel Association (ISA) told PTI. The renewed momentum in India-US trade engagement following the conversation between Prime Minister Narendra Modi and US President Donald Trump is a positive signal for business confidence, he said.
“In steel, US section 232 tariffs of up to 50 per cent remain unchanged, indicating no immediate improvement in market access. However, deeper collaboration on coking (metallurgical) coal presents a tangible opportunity,” Jindal said. He said the US supplies around 9.4 million tonnes, nearly 15 per cent of India’s coking coal imports, “improving input security, reducing concentration risk and strengthening steel and engineering supply chains”.
Coking coal is a critical raw material used by domestic steel makers to produce steel. India’s remains dependent on imports to meet 85 per cent of its coking coal requirements. The United States is one of India’s key trading partners, with bilateral trade exceeding $190 billion annually, Jindal said, adding that continued leadership-level engagement can further strengthen growth, jobs and innovation across manufacturing.
