Wet blanket on further investment if imports not curbed: AM/NS India CEO

Steel flat product plants are undergoing a massive margin squeeze; the results speak for themselves

Surge in import of flat steel from China to India is roiling the large integrated steelmakers who have lined up big-ticket investments through this decade. Trapped in a downward profit spiral, steelmakers are asking the Centre to put in place trade and non-trade remedy measures to protect the domestic industry. In a video interview, ArcelorMittal Nippon Steel India (AM/NS India) director and CEO Dilip Oommen tells Ishita Ayan Dutt that things will only get worse if the government doesn’t act in time. Edited excerpts:

 

You were part of a steel industry meeting with Union commerce minister Piyush Goyal and steel