Government Concerned About 'Dumping' of Rubber, Steel

India was concerned about the problems faced by the local rubber and steel industries due to "dumping" by countries that it has free trade agreements (FTAs) with, the steel and mines minister was quoted as saying by the Confederation of Indian Industry.

"We are ... in consultation with the ministries of finance and commerce and the prime minister to decide and reconsider on these FTAs and further increase in anti dumping duties very soon to safeguard the suffering rubber and steel industry", Narendra Singh Tomar told a conference on Thursday, according to a statement by the industry body.

Amid a global glut, steel imports into India jumped 72 percent in the last fiscal year to March to 9.3 million tonnes. South Korea and Japan, which pay duties of less than 1 percent due to the FTAs, together sent 3.5 million.