Tata Steel MD Narendran bats for safeguard duties on imported steel

MUMBAI: T V Narendran, the managing director of Tata Steel, sought the implementation of safeguard duties on imported steel aimed at protecting India’s steel sector from the cascading effects of tariff increases imposed by the US.
“It’s not that India is exporting a lot of steel to the US, but the steel which used to end up in the US will land somewhere else in the world, and that will impact India indirectly. Hence, we're seeing most countries act because of the US tariffs in the last few days. So, when multiple countries are taking action to protect themselves, I think India should also look at some of these possibilities,” Narendran said at the Nasscom Technology & Leadership Forum 2025 held in Mumbai on Tuesday.
A fortnight ago, President Donald Trump authorised two proclamations, with one specifically reintroducing a 25% duty on steel and aluminium imports without exemptions.
The Indian Steel Association has submitted a proposal to the govt advocating for safeguard duty implementation. Narendran explained that the association opted for safeguard duty over anti-dumping duty due to quicker implementation timelines.
The lack of protective measures over an extended duration could affect industry investment strategies, according to Narendran. He further noted that reduced margins and disrupted cash flows might adversely impact capex decisions.
Recently, Jindal Stainless' managing director, Abhyuday Jindal, sought to raise import duties by up to 25%. The move is intended to protect domestic manufacturers from the risk of dumped goods entering the country.