It is reported that as a measure to preempt dumping Indian government has slapped restrictions on imports of specific steel items used widely in the automobile, oil and construction industries.
The Directorate General of Foreign Trade vide Notification No 64 /(RE-2008) / 2004-2009 dated November 24th 2008 announced that the Central Government hereby amends Schedule – I (Imports) of the ITC (HS) Classifications of Export and Import Items, 2004-09 as under
“Import Policy for the item Seamless Tubes / Pipes under 4 digit Exim Code 7304 will be amended to read as Restricted instead of Free.”
As With the shift in seamless tubes and pipes from the 'Free' to 'Restricted' list, the user industries will need a license from the government to import the spatiality steel.
Government has already put curbs on import of hot rolled coils, the mother steel product, along with imposition of five per cent customs duty on specified iron and steel items.
Source : Steelguru