NEW DELHI India has extended anti-dumping duty on some steel products from China by five years, in a bid to retain protectionist barriers and stem the tide of cheap foreign products.The long-term measure, on the import of seamless tubes, pipes and hollow profiles of iron, alloy or non-alloy steel, stands effective as of May 17 last year when the government had imposed a provisional anti-dumping duty, according to the circular. Earlier this month, Steel Secretary Aruna Sharma told Reuters there was a "strong case" for imposing long-term anti-dumping duties on up to 124 steel products over the next two months.
Between April and January, India's steel imports fell 37.8 percent year-on-year, data from a government body showed, primarily due to the slew of protectionist steps announced by the government.Indian steelmakers such as JSW Steel, Tata Steel, and Steel Authority of India have lobbied for more measures to protect them from cheaper imports from China, Japan and South Korea.
For details on the circular, see: bit.ly/2lCFdFN
(Reporting by Neha Dasgupta; Editing by Biju Dwarakanath)
This story has not been edited by Firstpost staff and is generated by auto-feed.
Published Date: Feb 20, 2017 21:52 PM | Updated Date: Feb 20, 2017 21:52 PM