India to impose anti-dumping on Chinese steel
Thursday, 11 June 2009
NEW DELHI, June 10 (PTI): In the wake of Beijing announcing incentives on steel exports, India yesterday said it will impose anti-dumping and safeguard duties on import of the alloy from China if the domestic companies demand for the same.
"We are examining this (imposing anti-dumping and safeguard duties) ... We will initiate action if Indian steel companies lodge a formal complaint," Commerce Secretary G K Pillai told reporters here Tuesday when asked about the steps by China.
Pillai said the Chinese move to promote its steel exports "definitely strengthen the case for anti-dumping and safeguard duties" on import of such products.
China has announced export tax incentives up of to nine per cent on different steel products.
Indian steel companies, including SAIL, JSW and Essar Steel, have been demanding imposition of anti-dumping and safeguard duties to check the surge in cheap imports of the alloy, especially from China.
Anti-dumping and safeguard duties are WTO compatible measures for protecting domestic industries from increase in cheap imports.
India is a net importer of steel and it saw the arrivals declining by 18 per cent to 5.7 million tonnes during 2008-09.
However, an industry official said, "In volume terms, the steel quantity shipped to India may have declined in the fiscal, but what is damaging the domestic industry is the low price at which steel is being imported."
"We are examining this (imposing anti-dumping and safeguard duties) ... We will initiate action if Indian steel companies lodge a formal complaint," Commerce Secretary G K Pillai told reporters here Tuesday when asked about the steps by China.
Pillai said the Chinese move to promote its steel exports "definitely strengthen the case for anti-dumping and safeguard duties" on import of such products.
China has announced export tax incentives up of to nine per cent on different steel products.
Indian steel companies, including SAIL, JSW and Essar Steel, have been demanding imposition of anti-dumping and safeguard duties to check the surge in cheap imports of the alloy, especially from China.
Anti-dumping and safeguard duties are WTO compatible measures for protecting domestic industries from increase in cheap imports.
India is a net importer of steel and it saw the arrivals declining by 18 per cent to 5.7 million tonnes during 2008-09.
However, an industry official said, "In volume terms, the steel quantity shipped to India may have declined in the fiscal, but what is damaging the domestic industry is the low price at which steel is being imported."