The central government is preparing to impose an anti-dumping duty for five years on special types of steel products coming from several countries including Japan and Korea. This step is a readiness to be taken to protect the interests of domestic steel products from the effects of cheap imports. The Commerce Ministry has already recommended the government for this.
According to a notification by DGTR, the investigation arm of the ministry, it has been recommended to impose an additional duty for five years on the import of flat-rolled stainless steel products from the European Union, Japan, Korea, Malaysia, and Taiwan, etc. The government has proposed to charge a fee ranging from $ 67 per ton to $ 944 per ton on behalf of the Directorate General of Commerce Treatment (DGTR). The Finance Ministry will soon take a final decision on implementing this fee.
The DGTR has advised increasing the duty after investigating complaints of alleged dumping of steel products in India from these countries. In its investigation report, the Directorate has clearly written that the products exported from these countries to India are less than their normal price. This situation promotes the dumping of products. Due to this, the domestic industries are suffering losses.