Steel Ministry pitches for certain changes in norms used for imposing anti-dumping duties

The Steel Ministry has recommended its commerce counterpart to bring certain changes in norms used for imposing anti-dumping duties in order to making them more effective for protecting domestic players in the sector against cheap imports. The government has imposed anti-dumping duty on several steel products from countries including China.

However, in certain cases, the imposition of duties was not able to contain dumping of products and the government had to initiate anti-circumvention investigations. The ministry has also highlighted issues related to impact of free trade agreements being signed by India with its trading partners, including Japan and South Korea.

Steel industry wants the Commerce Ministry to exclude steel from the purview of the proposed mega free trade agreement - The Regional Comprehensive Economic Partnership (RCEP). China is a part of this agreement and the industry is of the view that cut in customs duties on steel would lead to flooding of products into India from the neighbouring country, significantly impacting domestic manufacturing.