India’s steel industry is seeking government support for a level playing field amid challenges from cheap imports, according to Sajjan Jindal, chairman and managing director of JSW Steel.
At the company’s annual general meeting, Jindal noted a 13.6pct rise in domestic steel demand in FY24, driven by infrastructure development. However, weak global steel demand and increased imports, particularly from China, are putting pressure on domestic steelmakers’ margins. The Indian steel industry is working with the government to address these issues and ensure fair competition, the company said.
JSW Steel plans to build a green steel facility with an initial capacity of 2 mln tons per annum, expandable to 4 mln tons. Jindal also highlighted the company’s goal to expand its Vijayanagar plant in Karnataka, currently India’s largest integrated steel plant, from 12.5 mln tons to 24 mln tons per annum.
