India’s imposition of safeguard duty has been successful in reducing steel imports in April this year, but the country has continued to remain a net importer of steel products, data sourced from the ministry of steel showed on Thursday, May 15.
According to the data, Indian steel imports following the imposition of 12 percent duty fell by 21 percent in April this year from the preceding month of March.
According to the data, total imports of finished steel in April this year were provisionally estimated at 0.46 million mt, while exports amounted to 0.38 million mt, while the safeguard levy failed to change India’s status as a net importer.
