<p>New Delhi: India is hopeful of securing preferential treatment for steel exports to the EU as the 27-nation bloc is currently negotiating new steel regulations with its trading partners that have an interest in the sector.</p>.<p>Under the India-EU free trade agreement, India has agreed to eliminate duties on most of the iron and steel products from the EU in a phased manner. The pact does not talk about India's steel sector.</p>.<p>The EU is currently transitioning to a new, more restrictive steel trade regime designed to replace existing safeguards. The primary regulation governing this shift is a new Steel Overcapacity Regulation, which was formally proposed in October 2025 and is scheduled to take effect on July 1, 2026.</p>.H D Kumaraswamy announces investment Rs 5,000 crore for rejuvenation of Visvesvaraya Iron & Steel plant.<p>"The European Union has come in with a new set of proposals on steel, and we have agreed in good faith to work together towards a very preferential treatment as a free trade agreement (FTA) partner so that India gets a better deal than most other countries with whom the EU does not have an FTA," Commerce and Industry Minister Piyush Goyal said on Tuesday.</p>.<p>He expressed hope that it will be resolved satisfactorily over a period of time.</p>.<p>India at present exports about four million tonnes of steel to the EU. The EU steel is of high quality, and India needs it for its manufacturing sectors.</p>.<p>An official said that the safeguard regime of the EU is ending and they have brought in a new steel regulation under a provision of the World Trade Organisation (WTO), where they will be negotiating with all partners who have a substantial interest in the EU market in steel.</p>.<p>"So their discussions will take place at the WTO...The quota has gone down by 47 per cent in the new regulation. So that is something which is going to be difficult for every supplier to meet. What we have tried to push and match for, and what is going to happen is also that the non-FTA partners are going to get a lesser quota as compared to the FTA partners," the official said.</p>.<p>"For FTA partners, it will be less than 47 per cent. Where it will settle down is all a thing of negotiation and finalisation at the WTO," the official added.</p>.<p>India at present has around 10 per cent market of the EU's import basket in these tariff lines.</p>.<p>"What we will be able to ensure is that we are able to more or less preserve our market and grow our market in this sector," the official said. </p>
<p>New Delhi: India is hopeful of securing preferential treatment for steel exports to the EU as the 27-nation bloc is currently negotiating new steel regulations with its trading partners that have an interest in the sector.</p>.<p>Under the India-EU free trade agreement, India has agreed to eliminate duties on most of the iron and steel products from the EU in a phased manner. The pact does not talk about India's steel sector.</p>.<p>The EU is currently transitioning to a new, more restrictive steel trade regime designed to replace existing safeguards. The primary regulation governing this shift is a new Steel Overcapacity Regulation, which was formally proposed in October 2025 and is scheduled to take effect on July 1, 2026.</p>.H D Kumaraswamy announces investment Rs 5,000 crore for rejuvenation of Visvesvaraya Iron & Steel plant.<p>"The European Union has come in with a new set of proposals on steel, and we have agreed in good faith to work together towards a very preferential treatment as a free trade agreement (FTA) partner so that India gets a better deal than most other countries with whom the EU does not have an FTA," Commerce and Industry Minister Piyush Goyal said on Tuesday.</p>.<p>He expressed hope that it will be resolved satisfactorily over a period of time.</p>.<p>India at present exports about four million tonnes of steel to the EU. The EU steel is of high quality, and India needs it for its manufacturing sectors.</p>.<p>An official said that the safeguard regime of the EU is ending and they have brought in a new steel regulation under a provision of the World Trade Organisation (WTO), where they will be negotiating with all partners who have a substantial interest in the EU market in steel.</p>.<p>"So their discussions will take place at the WTO...The quota has gone down by 47 per cent in the new regulation. So that is something which is going to be difficult for every supplier to meet. What we have tried to push and match for, and what is going to happen is also that the non-FTA partners are going to get a lesser quota as compared to the FTA partners," the official said.</p>.<p>"For FTA partners, it will be less than 47 per cent. Where it will settle down is all a thing of negotiation and finalisation at the WTO," the official added.</p>.<p>India at present has around 10 per cent market of the EU's import basket in these tariff lines.</p>.<p>"What we will be able to ensure is that we are able to more or less preserve our market and grow our market in this sector," the official said. </p>