* Functions hooked into colormag_action_head action. * * @hooked colormag_head - 10 */ do_action( 'colormag_action_head' ); ?> India imposes anti-dumping duties on steel products from China - Mumbai Aaspaas English

India imposes anti-dumping duties on steel products from China

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.

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