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Steel Tycoon Jindal Sees India Export Tax as Short-Term Headwind

  • India has scope to take on a larger role in global steel trade
  • Local demand prospects remain bright on government spending
Sajjan Jindal

Sajjan Jindal

Photographer: Samir Jana/Hindustan Times/Getty Images

India’s steel-export tax is a short-term headwind and is likely to be rolled back when inflation moderates, said Sajjan Jindal, the chairman of the country’s most valuable mill.

The tax has been “imposed with the objective of controlling inflation,” Jindal said in JSW Steel Ltd.’s annual report released on Wednesday. “India is a cost-competitive exporter of steel, and has an opportunity to take on a larger role in the global steel trade.”