Welcoming the imposition of anti-dumping duties on some steel products of foreign firms, steel users on Saturday said the anti-dumping regime supports National Steel Policy 2017 and the move is compliant with World Trade Organisation.
"The anti-dumping regime is World Trade Organisation compliant and supports the New Steel Policy 2017," said Steel Users Federation of India's President Nikunj Turakhia.
India imposed a retrospective anti-dumping duties on hot-rolled flat products of alloy or non-alloy steel, originating in or exported from China, Japan, Korea, Russia, Brazil and Indonesia, effective for five years from August 8, 2016, the Ministry of Finance said in a statement on Friday.
"The Indian steel industry is pleased that the notification has come in due time and is in line with the recommendations made after the detailed examination and report by Directorate General of Anti-Dumping and Allied Duties (DGDA) on April 10, 2017," he said.
He said the protection for five years would certainly offer long-term benefits to Indian steel mills, as the domestic producers would be guarded against cheap imports.
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