India imposes safeguard duties on some steel imports

Dhaka,  Tue,  06 December 2016
Published : 24 Nov 2016, 20:24:38

India imposes safeguard duties on some steel imports

India imposes safeguard duties on some steel imports
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, reports Reuters.

The government will gradually lower the duty from 10 per cent this year to six per cent 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.

Indian steelmakers JSW Steel, Essar Steel ESRG.UL 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.

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