Indian government representatives said there is no country specific bias and shipments with inadequate documentation are deterred.
“While Korean companies generally have a smooth run in India, but from time to time, they encounter some regulatory hurdles,” a South Korean representative said during the interaction.
“Japanese companies are very active in India, but also facing some problems,” a country representative said, enlisting concerns about India’s quality control orders for intermediate steel products.
Responding to these concerns at the sidelines, officials said India has already brought down quality control barriers. “Only consignments without adequate traceability are being stalled for vetting,” a senior official said, reiterating there is no country specific bias in India’s regulatory regimes.
Domestic steel making capacity is expected to get a fillip coming fiscal with a boost in capital expenditure by state-owned enterprises. Capital expenditure (capex) by steel public sector undertakings will annually rise by nearly 44% in fiscal 2026-27 to Rs 25,125 crore, budget documents show. Steel Authority of India Limited (SAIL), and National Mineral Development Corporation (NMDC) lead the pack with a 50% rise in capex funded through Internal and Extra Budgetary Resources (IEBR).
India’s steel production capacity currently stands at 218 million tonnes per annum (mtpa), rising by 18 mtpa in the current fiscal itself. The country targets having 300 mtpa installed steel manufacturing capacity in 2031.