PTI reported that Indian steel major Steel Authority of India Limited has urged the government to re impose import duty on steel products immediately.
Mr SK Roongta said that “The government should re impose import duty on all categories of steel soon to ward off the threat of cheaper shipments from countries like China amid the global economic recession.
Roongta told reporters that “As anti dumping laws are there in India, the government should act swiftly and take precaution to safeguard the domestic steel industry.”
Mr Roongta added that the demand may, however, come under pressure if Chinese surplus production starts flowing into the country. He said that “Chinese producers have surplus production available. There is a possibility of them starting dumping it into India.”
Source : Steelguru