Steel Secretary Sandeep Poundrik: Safeguard duty decision expected in 2-3 weeks
The domestic steel industry has been facing growing concerns over the influx of low-cost steel imports, particularly from China. In response, Indian steel producers have been advocating for the implementation of a safeguard duty of up to 25%. This move is seen as a critical step to protect local manufacturers from the unfair competition posed by cheap foreign steel, which has been flooding the market at prices below the cost of production.
The domestic steel industry has been facing growing concerns over the influx of low-cost steel imports, particularly from China. In response, Indian steel producers have been advocating for the implementation of a safeguard duty of up to 25%. This move is seen as a critical step to protect local manufacturers from the unfair competition posed by cheap foreign steel, which has been flooding the market at prices below the cost of production.
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