Centre addressing concerns over dumping of steel into India, 'news expected soon', says

TATASTEEL

teel's CEO

Centre is addressing the concerns of domestic steel manufacturers over cheaper imports of steel products, and 'some development' in this regard is expected very soon, TV Narendran, the CEO and Managing Director of

a Steel has said. The possibility of further dumping of steel products into India remains high, he added, given the threat of a possible US tariff on Chinese manufacturers looms large. Speaking to CNBC-TV18, Narendran sounded hopeful of update soon, adding that India needs to manage 'manufacturing risks' that may arise out of any tariff-related action by US. President Trump's proposed tariffs on steel imports are likely to directly impact India's exports too, said Narendran, as well influence indirectly through changes in international prices. "Indian steel prices are very competitive. India is one of the best places in the world to produce steel and the Indian steel industry has built very modern and efficient steel plants," he said, noting that the issue is at what price, foreign entities are willing to sell steel. "If we look at the profitability of the Chinese steel industry, it's pretty much negative. Most steel companies in China are losing money. But in India, the steel industry is mostly private dominated. So, unless it's profitable, it doesn't make sense for the companies to invest in new capacity,