The commerce ministry’s investigation arm, the Directorate General of Trade Remedies (DGTR), has recommended imposing a 12 percent provisional safeguard duty for 200 days on certain steel products. This measure aims to protect domestic players from a surge in imports.
The investigation into the sudden surge in imports of ‘Non-Alloy and Alloy Steel Flat Products’ was initiated in December last year following a complaint from the Indian Steel Association on behalf of its members, including major steel producers like ArcelorMittal Nippon Steel India, JSW Steel, and Steel Authority of India Limited. The DGTR’s probe preliminarily found a recent, sudden, and sharp increase in the imports of these products into India, causing and threatening to cause serious injury to the domestic industry/producers.
The DGTR, in a notification dated March 18, stated that there exist critical circumstances where any delay in applying provisional safeguard measures would cause irreparable damage. The authority has recommended the imposition of a provisional Safeguard Duty at the rate of 12 percent ad valorem for 200 days, pending final determination on imports of the products. The final decision to impose the duty will be taken by the finance ministry.