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Date: 29/11/2024

Govt restricts poor-quality steel imports
 
The centre has found instances of poor-quality steel imports and barred their entry into the country.  Steel Ministry said cheaper imports lead to depression of domestic steel prices and affect steel producers, both large and small. According to the ministry, many traders and manufacturers have been trying to import steel with minor alternations in steel grades to bypass Bureau of Indian Standard (BIS) requirements. These seem to be an attempt to import cheap steel in the name of different grades. As many as 51 BIS Standards covering 1,376 Grades of Steel have been notified and have been covered by Quality Control Orders by the Ministry of Steel. This ensures that the steel produced domestically or imported from outside conforms to BIS standards and low-quality steel is neither produced nor imported. India’s steel imports have increased significantly for the first half of 2024-25 as compared to the same period last year, as per a report.
 
Source: Exim News Service: new delhi, Nov. 28



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