The Indian Stainless Steel Development Association (ISSDA), the representative body of domestic stainless steel producers, has turned to the ministry of steel seeking the imposition of a surtax on imports of all stainless steel products from China, government sources said on Tuesday, September 24.
In a communication to secretary of the ministry of steel, Sandeep Poundrik, the ISSDA said, “Chinese producers benefit from substantial, non-WTO-compliant government subsidies and engage in practices that distort market conditions”.
The association has sought a level of a trade barrier along the lines of the recent surtax levied by the Canadian government.
“The Canadian government has recently implemented a 25 percent surtax on imports of steel, including stainless steel, and aluminium products from China, effective October 15, 2024, and, given these developments, the ISSDA believes that similar trade remedy measures would be highly beneficial for India's stainless steel sector,” the sources said quoting from the ISSDA communication.
“The influx of subsidised and non-market stainless steel products from China threatens the viability of Indian producers, especially MSMEs (Micro, Small and Medium Enterprises), which are integral to our sector's ecosystem. These enterprises are at risk of being outcompeted by unfairly priced imports, potentially leading to job losses and reduced investments in the sector," the ISSDA said in the letter, according to government sources.
