Govt plans to not impose anti-dumping duty on specific steel products
Steel

Govt plans to not impose anti-dumping duty on specific steel products

The government has decided not to inflict anti-dumping duty on specific steel products being imported from nations such as Japan, China, and Korea, since the finance ministry has not accepted the suggestions of the directorate general of trade remedies (DGTR).

The commerce ministry's investigation arm DGTR had held an investigation against imports of Non-Alloy Steel or Cold Rolled or cold reduced flat steel products of iron or other Alloy Steel of all width and thickness - not clad, plated or coated and Hot Rolled flat products of alloy or non-alloy steel, following complaints listed by domestic manufacturers of the products.

On both these types of steel, the directorate on September 14, 2021, had suggested the imposition of definitive anti-dumping duties.

While DGTR suggests the duty, the Department of Revenue takes the final call to charge the duties.

In separate office memorandums, the department has told the media that the central government, after considering the final findings of the designated authority (DGTR), has chosen not to accept the suggestions.

The directorate had achieved in its findings that cold-rolled products are being dumped by firms from Japan, China, Korea and Ukraine; and hot-rolled goods are dumped from Japan, China, Russia, Korea, Brazil and Indonesia.

India has a free trade agreement with Korea and Japan. In international trade parlance, dumping happens when a nation or a firm exports an item at a cost lower than the cost of that product in its domestic market.

Dumping influences the cost of that product in the importing nation, hitting the margins and profits of manufacturing companies.

As per the global trade standards, a nation is allowed to inflict tariffs on such dumped products to render a level-playing field to domestic producers.

The duty is inflicted only after a thorough inquiry by a quasi-judicial body, like DGTR, in India.

The imposition of anti-dumping duty is permitted under the World Trade Organisation (WTO) regime. The duty is strived at guaranteeing fair trading practices and forming a level-playing field for domestic manufacturers vis-a-vis foreign manufacturers and exporters.

Image Source

Also read: DGTR recommends anti-dumping duty on aluminium imports

The government has decided not to inflict anti-dumping duty on specific steel products being imported from nations such as Japan, China, and Korea, since the finance ministry has not accepted the suggestions of the directorate general of trade remedies (DGTR). The commerce ministry's investigation arm DGTR had held an investigation against imports of Non-Alloy Steel or Cold Rolled or cold reduced flat steel products of iron or other Alloy Steel of all width and thickness - not clad, plated or coated and Hot Rolled flat products of alloy or non-alloy steel, following complaints listed by domestic manufacturers of the products. On both these types of steel, the directorate on September 14, 2021, had suggested the imposition of definitive anti-dumping duties. While DGTR suggests the duty, the Department of Revenue takes the final call to charge the duties. In separate office memorandums, the department has told the media that the central government, after considering the final findings of the designated authority (DGTR), has chosen not to accept the suggestions. The directorate had achieved in its findings that cold-rolled products are being dumped by firms from Japan, China, Korea and Ukraine; and hot-rolled goods are dumped from Japan, China, Russia, Korea, Brazil and Indonesia. India has a free trade agreement with Korea and Japan. In international trade parlance, dumping happens when a nation or a firm exports an item at a cost lower than the cost of that product in its domestic market. Dumping influences the cost of that product in the importing nation, hitting the margins and profits of manufacturing companies. As per the global trade standards, a nation is allowed to inflict tariffs on such dumped products to render a level-playing field to domestic producers. The duty is inflicted only after a thorough inquiry by a quasi-judicial body, like DGTR, in India. The imposition of anti-dumping duty is permitted under the World Trade Organisation (WTO) regime. The duty is strived at guaranteeing fair trading practices and forming a level-playing field for domestic manufacturers vis-a-vis foreign manufacturers and exporters. Image Source Also read: DGTR recommends anti-dumping duty on aluminium imports

Next Story
Resources

Ajmera Realty launches tree drive on Environment Day

Ajmera Realty & Infra India marked World Environment Day with a large-scale tree plantation initiative—Plant-with-Purpose—across its projects in Mumbai and Bangalore. The drive was inaugurated at Ajmera Manhattan and Ajmera Greenfinity in Wadala, with senior company officials and residents in attendance. The campaign encourages residents to embrace eco-conscious, self-reliant lifestyles by growing useful plants and trees within their communities. Horticulture expert Devendra Bhekar guided residents on creating and maintaining green spaces. Ajmera Realty planted over 500 trees..

Next Story
Resources

Twaron®-reinforced tyre powers Brunel’s solar race car

Teijin Aramid’s Twaron® with circular content will debut in Bridgestone’s race tyres for the 2025 Bridgestone World Solar Challenge, supporting the Brunel Solar Team’s Nuna 13 car. This marks the first use of the recycled-content aramid in a high-performance race tyre. The Twaron®-reinforced belts help enhance durability, reduce rolling resistance, and maintain lightweight strength—critical for the 3,000-km solar race across Australia. Bridgestone combines this with ENLITENTM tech and other recycled inputs to maximise environmental and performance outcomes. Teijin Aramid, a..

Next Story
Building Material

Kamdhenu Paints launches new wood coating range

Kamdhenu Paints has launched a comprehensive premium wood coating range designed for both interior and exterior applications. The collection includes high-performance solutions like Kamwood 2K PU for a rich matt or high-gloss finish, Kamwood 1K PU for clarity and stain protection, and the Kamwood Melamyne system for a smooth, durable finish. Also featured are Kamwood Wood Stains, which enhance wood grains with vibrant colour, and NC Sanding Sealer for high-build grain filling. The range is supported by Kamwood Thinners for ease of application and optimal finish. Saurabh Agarwal, MD, ..

Advertisement

Advertisement

Subscribe to Our Newsletter

Get daily newsletters around different themes from Construction world.

STAY CONNECTED

Advertisement

Advertisement

Advertisement

Advertisement

Talk to us?