India imposes countervailing duty on some Chinese steel products

The government has imposed countervailing duty for 5 years on imports of certain flat steel products from China to guard domestic players from imports that are subsidised by exporting nations. The decision to impose the duty was taken by the finance ministry after the Directorate General of Anti-Dumping and Allied Duties (DGAD) found that despite sufficient demand in India, the domestic industry has lost sales opportunities, which is a direct consequence of subsidised imports from China. DGAD is an investigative arm of the commerce ministry. Countervailing duty is country specific and is imposed to safeguard domestic industry against unfair trade subsidies provided by the governments of the exporting nations.