SFAI demands maintenance of current import duty rates on steel products

SFAI demands maintenance of current import duty rates on steel products

The Steel Furnace Association of India (SFAI), representing mini steel industry, producing construction steel, alloy steel and special steels has recently demanded government to keep current import duty rates on steel products at least two years. It is reported that current import duties on steel products are ranging between 15%- 20%. As previously reported by SteelOrbis, Indian government has been lowering duties gradually from the beginning of the year. However, SFIA is of the opinion that a further reduction in the duties will injure domestic steel producers. On the other hand, SFAI supports reduction in import duties on raw materials to 0%.