ISA demands duty hike for steel imports

ISA demands duty hike for steel imports

The Indian Steel Alliance (ISA), on behalf of major Indian steel producers, demanded that the government increase duties on imported steel to 10 percent from 5 percent on the grounds that there has been a sharp increase in steel imports. Moosa Raza, president of the ISA, indicated the import surge was as high as 108 percent in some product categories. On the other hand, the government's Joint Plant Committee (JPC) disclosed that imports rose 20.5 percent in the first quarter to 540'000 tons. In fact, the JPC points out that hot rolled coil imports fell from 183'000 tons last year to 165'000 tons this year. The rise in imports was mainly seen in bars, rods, galvanized sheets and cold rolled sheets, product categories that the JPC argues have a negligible impact on the profitability of large companies.