India Imposes 12% Safeguard Duty on Steel
India imposes a 12% safeguard duty on flat steel products for 3 years. Naveen Jindal and the Indian Steel Association hail the move to protect domestic industry.
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LUCKNOW- The Indian government has officially imposed a 12% safeguard duty on flat steel imports for three years to protect domestic manufacturers. Naveen Jindal, President of the Indian Steel Association (ISA), welcomed the move, stating it will restore market stability and stop predatory pricing from foreign exporters.
This policy measure targets a sharp surge in cheap shipments from China, Vietnam, and Korea. By supporting the domestic steel value chain, the duty ensures that infrastructure projects remain fueled by local production, aligning with India's goal of achieving 300 million tonnes of capacity by 2030.
