India’s Ministry of Steel is talking to its counterparts in the Ministry of Finance seeking a hike in import duty on steel to 10-12 percent from 7.5 percent at present, minister of steel H D Kumaraswamy said in a statement on Thursday, September 5.
“The Indian steel industry is facing problems from China and I will try to convince the Ministry of Finance to raise the import duty on steel,” he said.
India’s imports of steel during the April-July period of the fiscal year 2024-25 have been estimated at 807,000 mt.
The Indian government in August initiated an antidumping investigation on certain steel products imported from Vietnam.
Steel mills such as JSW Steel Limited and Tata Steel Limited have said that the industry is in talks with the government on trade measures.