Naveen Jindal says US steel tariffs will not impact India

Naveen Jindal, Chairman of Jindal Steel Limited and Member of Parliament, stated that high US tariffs will not significantly impact India’s steel industry due to robust domestic demand and infrastructure growth.

Jindal noted that many Indian steel products have already faced US tariffs exceeding 200% for over a decade. He argued that even when tariffs were at 50% under Section 232 of the Trade Expansion Act, Indian suppliers were not exporting steel to the US, meaning further increases would have little practical effect on local mills.

India’s domestic market offers significant growth potential. Per-capita steel consumption in India is approximately 107 kg, which is less than half the global benchmark of over 220 kg. Data from the Ministry of Steel shows finished steel consumption rose 7.9% year-on-year to 56 million tonnes between April and July 2026, while crude steel output reached 56.2 million tonnes during the same period.