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| Japan, South Korea tighten grip over Indian steel imports | Writer | Admin | |||
|---|---|---|---|---|---|
Major steel producers look to capture new markets after being blocked from the United States and Europe by tariffs and other protectionist measures.Japan and South Korea strengthened their grip on the Indian steel market in April, supplying nearly three-fifths of the total imports, according to government data seen. The increasing inroads the foreign steel makers are making will add to pressure on the Indian government to take protectionist measures to support local mills. Indian steel makers have been lobbying New Delhi for such backing in recent weeks. India, the world's second biggest steel producer, relies on imports to meet demand for high-grade steel required for automobiles and white goods. |
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