In FY2020, India registered 80% market share in South Asia & Oceania. Key player positioned in the country are Jai Balaji Group, Jindal SAW Ltd, Electrotherm, Electrosteel, and Tata Metaliks, among others. These players together hold a prominent market share, not only in India, but also in South Asia & Oceania.
Despite trade liberalization, the country has put set of norms that impose tariffs on the imports of DIP from foreign players. Moreover, the Government of India is obliged to procure from regional players to strengthen regional businesses of DIP. These factors act as hurdles for prominent international players looking to up their footprint in high potential markets such as India.
First-hand bidding for procurement tenders by regional players such as Jai Balaji, Jindal SAW, and Electrosteel, among others, will strengthen the market for regional players. Moreover, DIP is extensively procured by key construction firms in the country, such as L&T, Tata Construction, and others.
