Indian steel industry is facing some challenges amid the ongoing trade war between the US and China, according to Union Steel Minister Dharmendra Pradhan. The minister also noted that the global steel industry is facing the challenge of surplus production.
Pradhan was interacting with reporters on the sidelines of two-day International Galvanising Conference event here. When asked if the local industry could face challenges amid the ongoing US-China trade war, the minister replied in affirmative. “It’s facing,” he said, without speaking further. According to official data, share of imports of finished steel from FTA countries such as Korea, Japan and Indonesia aggregated around 70 per cent of total imports to India in August 2019.