New Delhi: In a bid to protect the interest of domestic players from cheap imports from the neighbouring country, India has imposed anti-dumping duties of up to $ 185.51 per tonne for five years on certain varieties of Chinese steel.
The revenue department imposed the duty based on recommendations of the Directorate General of Trade Remedies (DGTR). This followed a joint application by domestic steel industries including JSW Steel Ltd, Sunflag Iron & Steel Co, Usha Martin, Gerdau Steel India, Vardhman Special Steels and Jayaswal Neco Industries before the DGTR for initiating investigations and levying anti-dumping duties on some steel products.
While recommending the anti-dumping duty, DGTR said the goods have been exported to India from China below normal value and the domestic industry has suffered a material injury on account of the imports.
In its anti-dumping investigation, the DGTR stated that dumped imports of ‘straight length bars and rods of alloy steel’ from China have increased in absolute terms during the period of probe (2016-17). The product finds end use application across various segments and sectors including forging, automobiles, auto components, crank shaft, springs, gears, fasteners, cement plants, power plants, turbines, ship-building, and railways, among others.
In general, the purpose of anti-dumping duty is to eliminate injury caused to the domestic industry by the unfair trade practices.