Indian Steel Association and Indian Chamber of Commerce had sent representation to Ministry of Steel for working out a suitable comprehensive package to support steel sector. Their representations have been forwarded to Department of Financial Services.
To curb cheap imports of steel products into the country the Government has imposed the Minimum Import Price (MIP) on 173 HS Tariff lines concerning steel products vide Notification no. 38/2015-20 dated 5th February, 2016 for the period of six months. Further MIP on 66 HS Tariff lines was continued for period of two months vide Notification No. 20/2015-20 dated 4th August, 2016 and further extended upto 4th December, 2016 vide Notification No.30/2015-20 dated 4th October, 2016. Government has imposed in June, 2015, Anti-Dumping Duty on imports of certain variety of hot-rolled flat products of stainless steel from China ($ 309 per tonne), Korea ($ 180 per tonne) and Malaysia ($ 316 per tonne).
The Minister of State for Steel Shri Vishnu Deo Sai gave this information in reply to a question in the Lok Sabha today.YSK/Uma
(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)