Mumbai– India’s steel industry is poised to play a pivotal role in meeting both domestic and global demand, Union Commerce Minister Piyush Goyal said on Friday, highlighting the sector’s efficiency, cost-effectiveness, and high quality.
Speaking at the Steel India 2025 event, Goyal emphasized that India is not only addressing its internal needs but is also well-positioned to contribute significantly to the global steel market. “India is actively pursuing free trade agreements (FTAs) with countries and regions, including the European Union, United Kingdom, United States, and New Zealand, to expand market access for its steel products,” Goyal said.
He underscored India’s commitment to self-reliance, or Atmanirbharta, while clarifying that it does not mean isolation. “Self-reliance doesn’t imply shutting doors; it means opening them wider. Every country has competitive advantages in different sectors, and we aim to leverage those opportunities,” he noted.
India is currently negotiating 10 to 12 trade agreements aimed at ensuring broader access for its competitively priced, high-quality steel in international markets, Goyal added.
The minister also reassured that the government remains proactive in protecting the domestic steel industry from unfair trade practices. “India has already taken steps to shield its steel sector from the dumping of products at irrationally low prices, based on findings from the Directorate General of Trade Remedies (DGTR),” Goyal stated.
India’s diplomatic efforts to strengthen its steel sector are ongoing, with the global trade environment facing increasing uncertainty. Goyal stressed that pushing forward with FTAs is essential for ensuring continued market access.
Negotiations for an FTA with the UK are reportedly nearing completion, while talks for a bilateral trade agreement with the US are progressing ahead of schedule, further bolstering India’s position in global steel trade. (Source: IANS)
