India Eyes Greater Steel Export Access Through FTA Talks
India is pushing hard to secure better market access for its steel exports during ongoing Free Trade Agreement (FTA) negotiations. Commerce Minister Piyush Goyal recently emphasized the government’s efforts to protect domestic industries while expanding global reach — a critical balance for India’s trade future.
Steel, a backbone of India’s manufacturing sector, contributes around 2% to the national GDP. Boosting exports can significantly strengthen the economy — but it also brings tax, compliance, and policy implications businesses must track closely.
Why Steel Access Matters in FTA NegotiationsHow Steel Export Access Impacts Indian Businesses
- Steel exports support over 2 lakh direct and indirect jobs.
- Indian steel faces high tariffs and non-tariff barriers abroad.
- FTAs can reduce duties, open new markets, and enhance competitiveness.
- India’s goal: level playing field with nations like Japan, Korea, and EU members
How Steel Export Access Impacts Indian Businesses
| Opportunity | Risk |
|---|---|
| Lower duties = Higher competitiveness abroad | Strict compliance needed with new Rules of Origin |
| Entry into protected foreign markets | Risk of sudden FTA renegotiations or disputes |
| Boost to MSME steel ancillary units | Need for rapid upskilling in documentation and quality norms |