‘Analyzing the Impact of Budget 2021 on Indian Steel Industry’


17 February, 2021

The steel industry has always been at the forefront of industrial development and forms the backbone of any economy. Steel industry has held a dominant position and has been one of the metals that is the core drivers of industrialization. The announcement of the ‘Atmanirbhar Bharat Abhiyaan’, focused on boosting indigenous industrial capabilities have come at right time, considering a large economic package has been announced to kick start the implementation 
of this vision for the steel industry.


The impact of Union Budget 2021-22 for the Indian steel sector is highly positive as government is continuous thrust on infrastructure development with almost 35 percent higher capital outlay will boost steel consumption. Moreover, duty reduction on steel scrap and doubling of shipbreaking capacity by FY2024 would result in better availability and lower input costs for secondary steel producers. Given the sharp rally in domestic steel prices and the resultant increase in costs of end-user industries, the Government has announced a 2.5 percent to 5 percent reduction in customs duty on steel products, which would make imports more competitive. This in turn is likely to pressurize domestic steel prices thereby adversely impacting the margins of affected players.

In order to discuss the above and related concerns, ASSOCHAM is organizing a Webinar on ‘Analyzing the Impact of Budget 2021 on Indian Steel Industry on Wednesday 17th February 2021 at 2:00 PM - 4:00 PM.


Link to register for the webinar: -



For more details please contact: 

Corporate Office
The Associated Chambers of Commerce and Industry of India
ASSOCHAM Corporate Office, 5, Sardar Patel Marg
Chanakyapuri, New Delhi - 110021
Phone: 46550555 (Hunting Line)
Fax: 01123017008/9

Email: web.notifications@assocham.com