Posted on 14 Feb 2025
India’s steel minister H.D. Kumaraswamy expects a safeguarding duty or temporary tax of 15-25% could be imposed in six months, according to a media report monitored by Kallanish.
Kumaraswamy notes the Indian domestic producers face a serious challenge from cheap imports. "Rising Chinese steel imports, often aided by unfair trade practices, pose a serious challenge to Indian manufacturers," Kumaraswamy is quoted as saying as per a Reuters.
Kumaraswamy also highlights the government commitment to protecting the Indian steel industry in the report. "Based on ongoing investigations, safeguard duties in the range of 15-25% are being considered to prevent unfair competition and ensure a level playing field," he is quoted as saying.
In December, the Directorate General of Trade Remedies (DGTR) initiated a safeguard investigation on imports of non-alloy and alloy flat steel products in a gazette notification. It extended the deadline to submit further information and documentation pertaining to the safeguard probe into flat steel imports to 22 January (see Kallanish passim)
DGTR is the Indian commerce ministry’s trade investigation body. If the duty is imposed, it could remain in force for as long as two years.
Source:Kallanish
