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Date: 09/09/2024

Impose 12 per cent import tariff on Chinese steel, says Minister

The Finance Ministry should raise the import duty to over 12 per cent from the current 7.5 per cent on Chinese steel, said Mr H. D. Kumaraswamy, Minister of Heavy Industries. According to him, the move is in the interest of the steel industry as higher tariffs on Chinese imports will protect India’s market. The country’s steel makers, too, have raised these concerns in the recent past, pointing out that rising Chinese imports were affecting the margins of domestic steelmakers. Several countries have raised barriers against steel imports, and the Indian steel industry is engaged with the government to ensure a level playing field. One said that it is in discussion with the government to seek measures to restrict steel imports from China and FTA (free trade agreement) countries, as per a report.
 
Source; Exim News Service: New Delhi, Sept. 8



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