Govt probing rise in steel product imports
India has initiated an investigation into a surge in imports of certain steel flat products, following a complaint from the Indian Steel Association (ISA). The Directorate General of Trade Remedies (DGTR), under the Ministry of Commerce, is examining the imports of non-alloy and alloy steel flat products, used across industries such as construction, automotive, and electrical panels.
The ISA, representing steel majors like ArcelorMittal Nippon Steel, JSW Steel, and Steel Authority of India, filed a petition on December 15 under the Customs Tariff Act, 1975, seeking the imposition of safeguard duties on these imports.
The DGTR will assess whether unforeseen factors have led to a sharp rise in imports, and whether this influx has caused a threat of serious injury to the domestic industry. The investigation will cover imports from October 2023 to September 2024, .
The probe comes amid concerns about excess steel production capacity in countries like China, Japan, and South Korea. The investingation will conclude within eight months.
