India imposes a temporary rate, known locally as the duty of safeguarding, or 12 percent in steel imports, said a source from the direct knowledge government of the matter, to try to stop an increase in cheap imports from China and other places.
The government and the tax would act as soon as possible, the source, which did not want to be appointed, told Reuters on Monday.
India, the second largest raw steel producer in the world, was also a net steel importer finished per second consecutive year in fiscal year 2024/25, with shipments that reached a maximum of nine years or 9.5 million metric tons.
Last month, the General Directorate of Commercial Remedies (DGTR), which is under the Federal Ministry of Commerce, recommended a rate or 12 percent in some steel products for 200 days, as part of the efforts to stop cheap imports.
The recommendation followed last year investigation into whether unbridled imports have harmed the India National steel industry.
“There is clarity that the duty would be 12 percent and a decision is expected as soon as possible,” said the source on the previously declared plan to move forward with the DGTR recommendation.
The Ministry of Finance, which makes the final decision, did not immediately respond to a Reuters email for comments.
Steel imports finished from China India, South Korea and Japan reached a record in the first 10 months of the financial year that ended in March.
Imports from China, South Korea and Japan represented 78 percent of general steel imports ending in India.
The influx of cheap steel has forced the narrowest factories in India to reduce operations and consider employment cuts.
India joins a growing list of countries that contemplate the action for Stem imports.
His leading steel body, which has JSW Steel and Tata Steel among the members, together with the India Steel and Arcelor Authority Nippon Steel India, have raised Conerns about imports and has asked for curbs.
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Posted on April 21, 2025