The duty was recommended by the directorate general of trade remedies (DGTR) in its final findings of a probe initiated on a complaint by the Indian Steel Association. In its final findings, the DGTR has concluded ‘that there is a recent, sudden, sharp and significant increase in imports of product under consideration (PUC) into India at the cumulative level as a result of unforeseen developments…and threaten to cause serious injury to the domestic industry/producers,’ the DGTR has said in a notification.
DGTR is the apex authority for administering all trade remedial measures, including anti-dumping, countervailing duties, and safeguard measures. It recommended a 12% duty in the first year, 11.5% in the second, and 11% in the third year. The measure, it said, is necessary to give steelmakers a breathing space to adjust to the surge in low-priced imports over global developments.
The Indian Steel Association on behalf of its members including JSW Steel, ArcelorMittal Nippon Steel India, Jindal Steel and Power and SAIL filed an application seeking imposition of safeguard duty on imports of non-alloy and alloy steel flat products. In their latest statement, Naveen Jindal, President of Indian Steel Association, said the recommendation of a safeguard duty on flat steel imports for three years is a welcome step.
