US announces imposition of 25 per cent tariff on steel and aluminium products on most favoured nation (MFN) basis from March 12. India continues to engage with the US to achieve enhancement and broadening of bilateral trade ties. Basic Customs Duty (BCD) reduced from 2.5 per cent to Nil on Ferro-Nickel and Molybdenum ores and concentrates which are raw materials for steel industry. exemption on specified raw material for manufacture of Cold Rolled Grain Oriented (CRGO) steel has been continued up to 31.3.2026. Production-Linked Incentive (PLI) scheme for Specialty Steel is to promote the manufacturing of ‘Specialty Steel’ within the country and reduce imports by attracting capital investments. The anticipated additional investment under the PLI Scheme for Specialy Steel is Rs 27,106 crore with downstream capacity creation of around 24 million tonnes (MT) for specialty steel, according to the government. The basic intent of anti-dumping measures is to eliminate injury caused to the domestic industry by the unfair trade practice of dumping. The government acts as a facilitator by creating a conducive policy environment for the development of steel sector in the country.