India’s Directorate General of Trade Remedies (DGTR) has recommended the imposition of countervailing duty on flat products of stainless steel imported from Indonesia to protect domestic manufacturers, an official at the Indian Ministry of Commerce said on Monday, August 10.
“The domestic industry has suffered material injury due to subsidization of the product and therefore is recommending imposition of provisional countervailing duties on such imports from Indonesia,” a DGTR notification said.
According to the notification, the DGTR is of the view that imposition of provisional countervailing duties is required to offset subsidization and injury pending completion of formal investigations by it.
The duties recommended were 22.31 percent, 22.65 percent and 24.83 percent on different flat products of stainless steel exported by producers in Indonesia, the notification said.
The recommendation has been forwarded to the Ministry of Finance and will come into effect once the latter issues formal notification, the ministry of commerce official said.
The DGTR recommendation followed a complaint filed by the Indian Stainless Steel Development Association (ISSDA), Jindal Stainless (Hisar) and Jindal Stainless Steel Limited alleging subsidization of exports from Indonesian producers.