India proposes to hike customs duties for alloy steel, wires of alloy steel, stainless steel products

Friday, 05 July 2019 15:45:54 (GMT+3)   |   Kolkata
       

The Indian national budget presented before the national parliament has proposed to increase customs duty on alloy steel and wires of other alloy steel to 7.5 percent from five percent at present, according to budget papers presented on Friday, July 5.

The government has also proposed to increase customs duty on stainless steel products to 7.5 percent from 2.5 percent, according to the budget papers presented to parliament.

“The changes in customs duties are to provide a level playing field to domestic producers,”  finance minister Nirmala Sitharaman said while presenting the Indian Budget 2019-20 to parliament.


Most Recent Related Articles

US drawn wire imports down 9.7 percent in November

Quiet activity in Turkish local merchant market

Chinese domestic steel section prices stable or down slightly

Taiwan’s basic metal export orders down 14.6 percent in 2019

Egyptian and Emirati wire rod in demand in Saudi Arabia