The North News
Chandigarh, February 13
Managing Director of JSW Cement and JSW Paints, Parth Jindal, has accused China of dumping steel in India, a practice he claims is damaging the local steel industry. Jindal called for government intervention, asserting that China’s actions are destabilizing the profitability of Indian steel companies and threatening their growth, according to the news outlet Business Standard. He emphasized that, while India remains competitive, the steel industry’s profit is crucial for continued investment and capacity expansion. Jindal further said that China’s steel production, which is more than the rest of the world combined, has been slowing down. Due to overproduction, China is exporting its surplus steel globally, opting to maintain its steel mills, which provide significant employment. This move is causing disruptions in markets like India, where steel imports under free trade agreements with countries like Japan and Korea are increasing, the news outlet further said.
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