Summary: Indian steel magnate Mr. Sajjan Jindal calls for the Indian government to counter American tariffs and Europe's carbon tax with a similar levy to ensure a level playing field for companies like his. Jindal, the chairman of JSW Group, highlights the need for non-tariff barriers on steel imports where state support is involved. He addresses the unfair competition caused by state-backed Chinese steel and discusses the strength of India's steel demand, particularly driven by robust government infrastructure spending, reports BloombergNews Article: Indian steel tycoon Mr. Sajjan Jindal is advocating for the Indian government to respond to American tariffs and Europe's carbon tax with a comparable levy, aimed at creating a fair business environment for companies like his own.Speaking from New Delhi, the chairman of JSW Group shared insights into the prospects of flagship JSW Steel Ltd. He confirmed a Bloomberg News report on the company's acquisition plans.In the interview, Jindal voiced his concern about the disparities caused by region-specific protective measures. He highlighted the import tariffs on steel imposed by the United States and the Carbon Border Adjustment Mechanism (CBAM) in Europe. Jindal pointed out that while Europe subsidizes its industries extensively, other parts of the world lack such support, leading to an uneven competitive landscape.Jindal expressed his hope that India would introduce non-tariff barriers or other import restrictions for steel, particularly those where state support is involved in the industry.Discussing the unfair competition arising from state-backed Chinese steel, Jindal emphasized the need for a level playing field. He acknowledged that while China heavily supports its steel industry, other countries, including India, lack similar state backing, creating an imbalance in the market.Conclusion: Mrr. Sajjan Jindal's call for government intervention to counter trade disparities and his insights into India's steel industry underscore the complexities and challenges that global markets face. Addressing issues like state support, tariffs, and carbon taxes is crucial for ensuring fair competition and promoting sustainability.
Summary: Indian steel magnate Mr. Sajjan Jindal calls for the Indian government to counter American tariffs and Europe's carbon tax with a similar levy to ensure a level playing field for companies like his. Jindal, the chairman of JSW Group, highlights the need for non-tariff barriers on steel imports where state support is involved. He addresses the unfair competition caused by state-backed Chinese steel and discusses the strength of India's steel demand, particularly driven by robust government infrastructure spending, reports BloombergNews Article: Indian steel tycoon Mr. Sajjan Jindal is advocating for the Indian government to respond to American tariffs and Europe's carbon tax with a comparable levy, aimed at creating a fair business environment for companies like his own.Speaking from New Delhi, the chairman of JSW Group shared insights into the prospects of flagship JSW Steel Ltd. He confirmed a Bloomberg News report on the company's acquisition plans.In the interview, Jindal voiced his concern about the disparities caused by region-specific protective measures. He highlighted the import tariffs on steel imposed by the United States and the Carbon Border Adjustment Mechanism (CBAM) in Europe. Jindal pointed out that while Europe subsidizes its industries extensively, other parts of the world lack such support, leading to an uneven competitive landscape.Jindal expressed his hope that India would introduce non-tariff barriers or other import restrictions for steel, particularly those where state support is involved in the industry.Discussing the unfair competition arising from state-backed Chinese steel, Jindal emphasized the need for a level playing field. He acknowledged that while China heavily supports its steel industry, other countries, including India, lack similar state backing, creating an imbalance in the market.Conclusion: Mrr. Sajjan Jindal's call for government intervention to counter trade disparities and his insights into India's steel industry underscore the complexities and challenges that global markets face. Addressing issues like state support, tariffs, and carbon taxes is crucial for ensuring fair competition and promoting sustainability.
