Govt is safeguarding us through anti-dumping duties: Steel Industry

Aamir H Kaki 

Indian steel industry believes there is a need for levying anti-dumping duties on cheap and low quality steel and stainless steel imports, and the government is supporting and safeguarding the domestic industry by introducing duties.

Abhishek Agarwal, DGM - Sales, ESSAR Steel Ltd told The Dollar Business, “The government has supported us and introduced several duties with which it is trying to safeguard the domestic industry. Cheap imports not only affect the pricing, but when you are dumping you are not sending the best quality of steel. Pricing is one and quality is another aspect of anti-dumping,” he added.

Supporting the government’s move to curb cheap imports from countries like China and Australia, Deepak Satpathy, Associate Manager – Marketing, Jindal Stainless Management Services Pvt Ltd said, “Anti-dumping duty is already there on steel and stainless steel. In this way, the government is helping our industry and domestic market.”

ESSAR Steel and Jindal Stainless Management Services are the part of the Ministry of Steel Pavilion at the 36th edition of India International Trade Fair (IITF), being held from November, 14-27, 2016. The other steel companies which are a part of the pavilion are Ferro Scrap Nigam Limited (FSNL), Hindustan Steelworks Construction Limited (HSCL), Joint Plant Committee (JPC), JSW Steel, Kudremukh Iron Ore Company (KIOCL), MECON Ltd, Manganese Ore India Limited (MOIL), Metal Scrap Trade Corporation Ltd (MSTC), National Mineral Development Corporation (NMDC), Rashtriya Ispat Nigam Limited (RINL), Steel Authority of India Ltd (SAIL) and TATA Steel.

Commenting on the idea of coming up with a single pavilion for leading public and private steel companies of India, Agarwal said that it is a great initiative by the Ministry of Steel, while adding, “It not only brings the entire industry on a single platform but also helps in saving the cost. This is a good sign for the future.”

On expectations and opportunities from the IITF, Agarwal said, “I think this event is more for general people and we’re not expecting any business partnerships. Therefore, we are not making it technical. We are just showcasing that steel is part of our life and without steel such kind of existence and development is not possible. Everyone is using steel in some way or the other, like in a city, everything from building to airport and from metro to roadways, steel is used everywhere.”

Satpathy also agreed that they are not expecting any business opportunities from the Fair. “Expectations are not at all related to sale. People are coming here to know us. It is like a small marketing campaign,” he added.