The Process Plant and Machinery Association of India today said the anti-dumping probe initiated by the Commerce Ministry against import of stainless steel from European Union is affecting the end users of the alloy in Maharashtra.
The anti-dumping probe has “already taken its toll on the end users of stainless steel in Maharashtra, as its industry consumes more than 50 per cent of stainless steel in the country,” the association said in a statement today.
According to association secretary V P Ramachandran, the probe has no meaning as the Indian companies are importing those grades and sizes of stainless steel which do not directly affect the domestic manufacturers.
“Above all, the industry consuming imported stainless steel is already reeling under the impact of depreciation of the value of the rupee...,” he added.
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