Steel solution: Govt-industry discuss safeguard duty, Chinese overcapacity, stuck consignments
The issues were taken up at a meeting between Commerce and Industry Minister Piyush Goyal and Steel and Heavy Industries Minister H D Kumaraswamy.
Officials said the steel ministry proposed a 25% safeguard duty on certain steel imports to check the influx of steel without payment of any customs duty or at low duty from the Asean nations under an existing Free Trade Agreement (FTA) with India amid Chinese companies setting up large steel manufacturing capacities in the region.
ET reported on Monday that New Delhi is mulling several steps such as imposing a safeguard duty to curb imports from FTA countries.
“The issue could be discussed at the next meeting to review the Asean-India Trade in Goods Agreement (AITIGA) in February,” said an official.
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