US tariffs won’t have much impact on India’s steel industry: Secretary

“The US tariffs won’t have much impact on India’s steel industry as our domestic market is strong, and only a small quantity is exported to the US,” Steel Secretary Sandeep Poundrik said.

US President Donald Trump’s threat of imposing high tariffs is unlikely to have any major impact on India’s steel sector as only a small quantity of it is exported to the North American country, Steel Secretary Sandeep Poundrik said on Wednesday.

Talking to reporters on the sidelines of an event, Poundrik said India’s steel export to the US is less than 100,000 tonnes.

“The US tariffs won’t have much impact on India’s steel industry as our domestic market is strong, and only a small quantity is exported to the US,” he said.

Poundrik said India’s total annual production of steel in 2023-24 was around 145 million tonnes out of which only 95,000 tonnes were exported to the US. “If out of 145 million tonnes, we are unable to export 95,000 tonnes, it doesn’t really matter,”he added.

Earlier addressing a Steel Research Technology Mission of India (SRTMI) event, Poundrik underlined the growing domestic consumption of steel in the country. He said India’s annual per capita consumption of steel is likely to rise to 158 kg by 2030 from the current around 100 kg.