CBEC extends anti-dumping duty on alloy and non-alloy imports for 2 months
The Dollar Business Bureau The Central Board of Excise and Customs has extended the anti-dumping duties imposed on imports of Hot-rolled and Cold-rolled flat products of alloy or non-alloy steel from People's Republic of China, Japan, Korea RP, Russia, Brazil, Indonesia and Ukraine for another two months. This is a provision to protect the business interests of local manufacturers and to reduce the dependency on imports. This was conveyed via notification no’s: No.5 & No.6/2017-Customs (ADD) dtd Feb 7, 2017. The government has to make periodic amendments to the safeguard measures until the investigation by the Director General of Anti-Dumping concludes as the anti-dumping duty cannot be imposed for a longer term. The domestic steel lobby including JSW, Essar Steel and the Steel Authority ...
Indigenous steel plant to tap iron ore, curb steel imports
The Dollar Business Bureau In order to tap India’s iron ore resources, state-run companies Steel Authority of India Limited (SAIL) and National Mineral Development Corporation (NMDC) on Saturday agreed to set up an Ultra Mega Steel Plant (UMSP) in Chhattisgarh’s Bastar region. A memorandum of understanding (MoU) was signed on Saturday between the two companies in presence of Prime Minister Narendra Modi. The Prime Minister said the move will help India to curb its steel imports. “…Send iron out and get steel from outside. This would go on. But now this has to stop. We will make steel from the iron ore,” Modi said, adding that by utilizing indigenous resource of iron ore, India can be able to export ...
