Cheap imports, dumping hurt India's steel sector; need policy support: RBI article

India's steel sector faced challenges from cheap imports and dumping in 2023-24 and 2024-25. The Reserve Bank of India highlighted this issue, calling for policy support. Steel imports surged due to lower global prices, impacting domestic production and capacity utilization. Safeguard duties were imposed to mitigate dumping risks. The gap between domestic steel consumption and production widened.

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