Mumbai, 16/04/2025: Jindal has raised concerns about China and Vietnam dumping cheap steel into India. He said this is a big threat to local steel companies and hopes the Indian government will soon take steps to stop it. China is producing more steel than it needs and is selling the extra in other countries, including India, often through Vietnam. Jindal urged Indian businesses to take this seriously and not miss the chance to grow while global trade is changing.
To protect Indian steelmakers, Jindal believes the government will introduce safeguard duties in a few days. He said the steel sector is not inefficient but needs steady profits and big investments—about USD 20 billion a year—to keep up with rising demand. With steel demand in India growing by 10–12% each year, the country needs to add 20 million tonnes of capacity annually.
Along with these concerns, Jindal announced a major investment by JSW Steel to boost green steel production. The company plans to spend ₹50,000–60,000 crore to build a 10 million tonnes per year green steel plant at Salav in Maharashtra. This will be done over the next three to four years. The green steel produced here will release much less carbon compared to regular steel, which helps meet new environmental rules in Europe.
Jindal also spoke about JSW Group’s future plans. He said the group wants to become the world’s largest steel producer by reaching 100 million tonnes per year, up from the current 34.2 MTPA. The group is also working on making battery cells in India with help from Chinese and Korean partners. He shared that JSW MG Motor India may go public in 2–3 years, and JSW Cement will also have an IPO, but it won’t be very large.
