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Date: 15/10/2024

Centre mulls stringent quality norms for steel imports

The Centre is considering broadening its strict quality standards in response to the rising influx of substandard steel, primarily originating from China. This decision follows an in-depth review conducted by the Ministry of Steel in early October, which revealed growing concerns about the sector’s exposure to trade diversions on a global scale. During the first five months of the current financial year, India became a net importer of steel. According to official data, the country imported 3.45 million tonnes (mt) of steel, compared to 1.92 mt of exports. The government’s tightening of quality checks is seen as a way to curb the flood of steel imports. Currently, various grades of steel are permitted for import, subject to a no-objection certificate (NOC) from the Steel Ministry, despite existing quality control orders (QCOs), as per a report.
 
Source: Exim News Service: New Delhi, Oct. 14



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