Extension of safeguard duty on steel products to aid domestic industry
Domestic steel industry has been making consistent efforts apprising the government to protect domestic industry from increasing imports The Dollar Business Bureau Safeguard investigation on hot-rolled flat products of non-alloy and other alloy steel in coils of a width of 600 mm or more turns a concern for Indias global steel partners Owing to domestic concerns, the Directorate General of Safeguards(DGS) recommended on Wednesday the decision to continue the safeguard duties earmarked for some steel products for two more years, i.e., till March 31, 2018. This decision to continue safeguards has been achieved due to the consistent efforts of the domestic steel industry bodies. These bodies have been pitching for duties on steel imports as a measure to boost and protect the domestic ...
Rise in duty on steel product imports inadequate: Indian Steel Association
Sai Nikesh | The Dollar Business Amidst concerns from domestic industry over raising steel imports into the country, Government of India on Wednesday, increased basic customs duty on imports of steel products. Under this move, customs duty on imports of more than 400 steel products (a majority of them falling under the 8-digit HS Code levels) have been increased from 5%-to-7.5%-to-10%. The products include, Iron and non-alloy steel ingots; Semi-finished products of iron or non-alloy steel; Flat-rolled products of iron or non-alloy steel, of a width of 600 mm or more, cold-rolled, plated or coated; Flat-rolled products of iron or non-alloy steel, of a width of 600 mm or less, cold-rolled, plated or coated; Bars or rods, hot-rolled, in irregularly wound ...
