NDTV Profit

India Extends Anti-Dumping Duty On Some Chinese Steel Items By 5 years

Indian steelmakers such as JSW Steel, Tata Steel, and Steel Authority of India have lobbied for more measures to protect them from cheaper imports from China, Japan and South Korea.
EMAIL
COMMENTS
India Extends Anti-Dumping Duty On Some Chinese Steel Items By 5 years
NEW DELHI: India has extended anti-dumping duty on some steel products from China by five years, in a bid to retain protectionist barriers and stem the tide of cheap foreign products.

The long-term measure, on the import of seamless tubes, pipes and hollow profiles of iron, alloy or non-alloy steel, stands effective as of May 17 last year when the government had imposed a provisional anti-dumping duty, according to the circular.

Earlier this month, Steel Secretary Aruna Sharma told Reuters there was a "strong case" for imposing long-term anti-dumping duties on up to 124 steel products over the next two months.

Between April and January, India's steel imports fell 37.8 per cent year-on-year, data from a government body showed, primarily due to the slew of protectionist steps announced by the government.

Indian steelmakers such as JSW Steel, Tata Steel, and Steel Authority of India have lobbied for more measures to protect them from cheaper imports from China, Japan and South Korea.



 

© Thomson Reuters 2017



(This story has not been edited by NDTV staff and is auto-generated from a syndicated feed.)

For latest news on Business, like us on Facebook and follow us on Twitter.
ALSO READ Flipkart's 'Summer Shopping Days': A Second Super Sale Within A Month

Advertisement

Advertisement

GAINERS / LOSERS

Advertisement

Advertisement