Indian steel market is hit by unfair imports and dumping amid a demand slump in China and the government needs to take action in a time-bound manner, former steel secretary Nagendra Nath Sinha has said.
"If you take flat steel products, imports are certainly an issue. The slump in the Chinese market has really shaken the (domestic) market," Sinha, who superannuated on July 31, said at the 7th edition of BigMint's Indian Iron Ore and Pellet Summit on Friday.
He also warned of the price realisations getting affected due to surging imports impacting the profitability of steel makers.
"To the extent the imports currently happening are unfair and there is dumping going on and the Indian government should certainly respond to them in a timeframe," Sinha said.
His statement assumes significance as local steel players have been raising the issue of imports for months from select countries including China.
Steelmakers have raised concern that India is becoming a net importer of steel agai
