A team of officials from India has gone to America for talks with the US administration over 25 percent tariff it has imposed on steel imports, an official said.
Union Steel Minister Chaudhary Birender Singh today said the 25 per cent tariff imposed by the US on steel import can 'indirectly' affect the domestic sector.
The US' levy of heavy tariffs on imported steel and aluminum would not have any major impact on steel production in India as steel export to US was only 3.3% of total exports, Singh said.
Demand for steel is expected to grow for meeting the needs of the state-run flagship schemes like Make in India, housing projects and the defence sector, said Union Steel Minister Chaudhary Birender Singh.
India's export of finished steel fell by 33 per cent to 4.30 lakh tonne (LT) in May this year, according to official data.
JSPL's basic oxygen furnace at its integrated steel plant as also other facilities here were inaugurated today by Steel Minister Chaudhary Birender Singh and Petroleum Minister Dharmendra Pradhan.
JSPL said Union Ministers Chaudhary Birender Singh and Dharmendra Pradhan will tomorrow dedicate to the nation its 3 MTPA basic oxygen furnace (BOF) at Angul steel plant in Odisha.
Union Steel Minister Chaudhary Birender Singh said mineral rich Odisha is capable of producing 100 million tonne of steel to enable the country to achieve the goal of churning out 300 mt by 2030.
Chaudhary Birender Singh dedicated to the nation the rebuilt Blast Furnace-1 'Parvati' of RSP which will increase its annual production capacity from 0.438 million tonnes (MT) to 1.015 MT.
India's export of finished steel slumped by 25.2 per cent to 0.558 million tonnes (MT) during April 2018, according to a report.