India will achieve domestic stainless steel production of 3.6 million mt by the close of the fiscal year 2017-18, up from 3.3 million mt in the previous fiscal year, according to a statement issued by the Indian Stainless Steel Development Association (ISSDA) on Monday, November 20.
The ISSDA said that definitive countervailing duty on certain specific grades of stainless steel imports from China during the current year has boosted domestic production.
Meanwhile, the ISSDA has sought the scrapping of the 2.5 percent import duty on ferronickel and stainless steel scrap, as the government already scrapped the 2.5 percent import duty on nickel earlier in the year.
