HOME > MARKETS > ECONOMY NEWS
  ECONOMY NEWS
ECONOMY
India-US trade pact to enhance input security for domestic steel sector: Naveen Jindal
Feb-04-2026

Indian Steel Association (ISA) President Naveen Jindal has said that a stronger trade partnership between India and United States (US) will significantly enhance input security for the domestic steel sector as well as enhance competitiveness, exports and broader economic growth. The renewed engagement between the two countries, following a high-level discussion between Prime Minister Narendra Modi and US President Donald Trump, is a positive signal for business confidence. 

ISA President said in steel, US section 232 tariffs of up to 50 per cent remain unchanged, indicating no immediate improvement in market access. However, he said deeper collaboration on coking (metallurgical) coal presents a tangible opportunity.

He said the US is a key supplier, providing around 9.4 million tonnes of coking coal, representing nearly 15 percent of India's total imports. He noted that coking coal is a crucial raw material in steel production and about 85 percent of current requirement of coking coal is met through imports. The US is India's largest trading partner, with annual trade exceeding $190 billion. He added that continued leadership-level engagement can further strengthen growth, jobs and innovation across manufacturing.

  RELATED NEWS >>