This Article is From Nov 24, 2016

Government Imposes Safeguard Duties On Some Steel Imports

Government Imposes Safeguard Duties On Some Steel Imports

New Delhi: India has imposed anti-dumping duties on hot rolled flat sheets and plates of alloy or non-alloy steel to curb cheaper imports into the country, a government notification said on Thursday. 

The government will gradually lower the duty from 10 percent this year to 6 percent by 2019, the notification said. 

The effective duty rate would be arrived at after deducting the value of the goods and the anti-dumping duty payable when the import price is below $504 per tonne, it said. 

Steelmakers like JSW Steel, Essar Steel and Steel Authority of India had approached the Directorate General of Anti-Dumping and Allied Duties seeking safeguard measures against cheap imports flooding local markets and pressuring margins.

© Thomson Reuters 2016


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