India levies anti-dumping duty on steel from EU, China, Korea

 

India has slapped anti-dumping duty on certain stainless steel products from the European Union and several other nations, including China and Korea, to protect the domestic industry from cheap imports. The duty has been imposed by the Revenue department following recommendation by the Directorate General of Anti-Dumping and Allied Duties (DGAD).

In a notification, the Revenue department said, the levy ranges between 4.58 per cent and 57.39 per cent of the landed value of cold-rolled flat products of stainless steel. The duty will be in effect until December 10, 2020, while certain grades of stainless steel have been exempted from the levy. The anti-dumping duty will be imposed on the imports of stainless steel products from China, Taiwan, South Korea, South Africa, Thailand, the United States and the European Union.

Earlier this month, the government had imposed anti-dumping duty on imports of certain steel wire rods from China for five years.

Anti-dumping measures are taken to ensure fair trade and provide a level-playing field to the domestic industry. They are not a measure to restrict imports or cause an unjustified increase in the cost of products.