Indian workers store steel coils unloaded at a new private freight terminal near Ahmedabad. (SAM PANTHAKY/AFP/GettyImages)The Indian government has imposed anti-dumping duties on specific steel products imported to India from China for a period of five years, Indian Express has reported. The duties will range from $ 44.89 to $185.51 per tonne for the said period. The duties are aimed at protecting the domestic steel industry from cheap Chinese imports.
Domestic steelmakers JSW Steel Ltd, Sunflag Iron & Steel Co, Usha Martin, Gerdau Steel India, Vardhman Special Steels and Jayaswal Neco Industries Ltd had jointly filed an application before the Directorate General of Trade Remedies (DGTR) for initiation of investigations and levying of anti-dumping duties on certain steel products.
“The anti-dumping duty … shall be effective for five years (unless revoked, superseded or amended earlier) from the date of publication of this notification in the Official Gazette and shall be paid in Indian currency,” the notification said.
The DGTR, which recommended the anti-dumping duty stated that dumped imports of ‘straight length bars and rods of alloy steel’ from China have increased in absolute terms during the period of the probe.
In addition to concerns of dumping, the trade gap with China has increased to $ 63.12 billion in 2017-18 from $ 51.11 billion in the previous financial year.
An Appeal...
Dear Reader,
As you are no doubt aware, Swarajya is a media product that is directly dependent on support from its readers in the form of subscriptions. We do not have the muscle and backing of a large media conglomerate nor are we playing for the large advertisement sweep-stake.
Our business model is you and your subscription. And in challenging times like these, we need your support now more than ever.
We deliver over 10 - 15 high quality articles with expert insights and views. From 7AM in the morning to 10PM late night we operate to ensure you, the reader, get to see what is just right.
Becoming a Patron or a subscriber for as little as Rs 1200/year is the best way you can support our efforts.