To protect the domestic industry from dumping, India on Monday imposed a 20 per cent safeguard import tax on some steel products with immediate effect.
To protect the domestic industry from dumping, India on Monday imposed a 20 per cent safeguard import tax on some steel products with immediate effect.
On the representations of the domestic steel industry, Director Gene-ral of Safeguards had initiated safeguard investigations into alleged increased imports — especially from China — and consequent injury to domestic industry.
It had issued a preliminary finding last week recommending imposition of safeguard duty of 20 per cent ad-valorem, for 200 days on “hot rolled flat products of non-alloy and other alloy steel in coils of a width of 600 mm or more”.
The recommendations of the DG Safeguards were examined and confirmed by the Standing Board on Safeguards and later by the government.
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