India and Vietnam's Trade Investigation

India has launched an anti-dumping investigation concerning steel imports from Vietnam, driven by concerns from domestic steel producers like JSW Steel and ArcelorMittal. These companies argue that the influx of cheaper Vietnamese steel undermines their ability to compete in the market, particularly in products like Hot Rolled Coil, essential for automotive and construction industries. However, the investigation may overlook the larger issue of China's overwhelming dominance in the steel market, which constitutes a significant majority of India's imports. The fear is that reliance on Chinese exports could solidify Beijing's control over global trade, risking economic dependency for countries reliant on cheap imported goods.