In recent years, India's stainless steel imports have increased significantly, especially from Indonesia and China.

After India canceled anti-subsidy duties and anti-dumping duties and lowered its import tariffs on stainless steel in 2021, the amount of stainless steel imported from China, Indonesia, and Hong Kong increased significantly year-on-year, and it continues to increase in 2022. Among them, India’s stainless steel imports mainly come from China.

In addition, it also benefits from overseas fiscal measures, as well as the slow recovery of the supply chain caused by the repeated outbreak of the Covid-19 epidemic, while the stainless steel supply chain in China is complete and stable, so more overseas orders are moved to China.

At last, since China canceled the export tax rebate on stainless steel, some enterprises or individuals without export rights purchase a set of legal export declaration materials from other import and export companies to declare to the customs, which will reduce export prices and increase their competitive advantage.