Cos want steel products out of FTAs with Japan, Korea

摘要

THE rising steel imports from Japan and Korea have put additional pressure on domestic steelmakers, which are already struggling with tight iron ore and coking coal supplies. Steel majors including JSW Steel and Essar have been seeking withdrawal of steel products from the purview of free trade agreements (FTAs) with these two nations. "There is over 300% increase in imports of steel in just one year from Japan and Korea. The government needs to sit back and take a look at this. We have raised this issue many a times with the government asking it to keep steel outside of the purview of FTAs. However, notping has happened in this regard so far," Sajjan Jindal, the chairman and managing director of JSW Steel, said on the sidelines of an Assocham steel summitonTuesday.