India Imposes 12 Per Cent Safeguard Duty on Steel Imports
Steel

India Imposes 12 Per Cent Safeguard Duty on Steel Imports

The Central Government has imposed a twelve per cent safeguard duty for 200 days on five categories of imported steel products following a recommendation by the Directorate General of Trade Remedies (DGTR). The move aims to protect domestic producers from a significant surge in imports.

The duty will apply to imports priced below USD 675 to USD 964 per tonne for product categories including hot rolled coils, plates, cold rolled coils, and coated and colour-coated sheets. Imports at or above these prices will be exempt. The DGTR investigation began in December last year following complaints by the Indian Steel Association, representing major producers like JSW Steel, Steel Authority of India Limited, and ArcelorMittal Nippon Steel India. It found a sudden increase in imports—from 2.293 million tonnes in 2021–22 to 6.612 MnT between October 2023 and September 2024.

Welcoming the decision, Union Steel Minister H.D. Kumaraswamy said it would provide relief to small and medium enterprises. Indian Steel Association President Naveen Jindal called the duty a vital step towards market stability and self-reliance. However, MSME exporters and industry bodies like the Federation of Indian Export Organisations (FIEO) have criticised the move, warning it will raise input costs and reduce the global competitiveness of Indian products.

Source: PTI

The Central Government has imposed a twelve per cent safeguard duty for 200 days on five categories of imported steel products following a recommendation by the Directorate General of Trade Remedies (DGTR). The move aims to protect domestic producers from a significant surge in imports. The duty will apply to imports priced below USD 675 to USD 964 per tonne for product categories including hot rolled coils, plates, cold rolled coils, and coated and colour-coated sheets. Imports at or above these prices will be exempt. The DGTR investigation began in December last year following complaints by the Indian Steel Association, representing major producers like JSW Steel, Steel Authority of India Limited, and ArcelorMittal Nippon Steel India. It found a sudden increase in imports—from 2.293 million tonnes in 2021–22 to 6.612 MnT between October 2023 and September 2024. Welcoming the decision, Union Steel Minister H.D. Kumaraswamy said it would provide relief to small and medium enterprises. Indian Steel Association President Naveen Jindal called the duty a vital step towards market stability and self-reliance. However, MSME exporters and industry bodies like the Federation of Indian Export Organisations (FIEO) have criticised the move, warning it will raise input costs and reduce the global competitiveness of Indian products. Source: PTI

Next Story
Infrastructure Transport

Mumbai-Ahmedabad Bullet Train Set to Launch by 2028

India’s first bullet train is set to revolutionize high-speed travel along the western corridor, with the Mumbai-Ahmedabad high-speed rail project aiming for a 2028 launch. This announcement marks a major milestone in India’s infrastructure goals, as it promises to reduce travel time between the two economic hubs from eight hours to just three.Spanning a planned 508-kilometre stretch, the corridor stands as a flagship example of Indo-Japanese collaboration in technology and engineering. Once operational, the train is expected to transform intercity mobility and place India among the select..

Next Story
Infrastructure Transport

Mumbai-Gandhinagar Train Service Enhances Passenger Capacity

The Mumbai Central–Gandhinagar Capital Vande Bharat Express has increased its passenger capacity by adding four additional AC chair car coaches to meet the growing commuter demand on one of India’s busiest business corridors. This upgrade, effective from 11 May, raised the train’s seating capacity from 1,128 to 1,440 passengers, allowing it to serve 936 more passengers daily in both directions. The increase was described as a practical measure to accommodate the surging demand on the busy Mumbai–Ahmedabad–Gandhinagar route, which regularly operates at over 150 percent seat occupancy...

Next Story
Infrastructure Urban

Delhi Plans 12 Sewage Plants to Clean Najafgarh Drain Efficiently

Delhi’s ambitious plan to improve the water quality of the Yamuna River has gained significant momentum as the Delhi Jal Board (DJB) has begun work on 12 new sewage treatment plants (STPs) aimed at reducing the volume of untreated sewage being discharged from the Najafgarh Drain.This initiative forms part of the ongoing efforts to clean the Yamuna and restore the river’s health, which has long been a critical environmental issue for the national capital. Given the alarming pollution levels in the Yamuna, experts and officials consider this project a vital step toward addressing the persist..

Advertisement

Advertisement

Subscribe to Our Newsletter

Get daily newsletters around different themes from Construction world.

STAY CONNECTED

Advertisement

Advertisement

Advertisement

Advertisement

Talk to us?