Items excluded in steel MIP may come under anti-dumping duty

Government is working on bringing steel products, that have been excluded from the minimum import price net, under other safeguard measures such as anti-dumping duty, Steel Minister Chaudhary Birendra Singh said today.
The minister said that this time minimum import price (MIP) has been placed for 60 days, during which the ministry will do a "comprehensive" analysis on the situation on safeguards and explore measures that can be undertaken under anti-dumping duty.
"MIP this time is on 66 products and is for 60 days. We are also working on bringing rest of the products under anti-dumping duty. Some have been covered and we are working on the rest," Singh told PTI in an exclusive interview.

The government, yesterday, extended the MIP on 66 steel products for a period of two months as against 173 items earlier. The measure ranges between USD 341 - 752 per tonne.
Explaining the rationale, Singh said: "So, most of these items depending on their position (like cheap import), we will try to bring such safeguard (anti-dumping duty) measures as they are long term safeguards (like 5 years)."
Though its procedure is long, but then it can be a better alternative and at the same time will keep in view the country from where cheap imports are coming, the minister said.

"Now we would also see whether there is a necessity to put some more items under the MIP such as wires, rods and rest are the offshoots of these two items. Also if some item is to be taken out (of MIP) as some industries are demanding to allow imports of raw materials/products whose availability is not there in the country," he explained.

Singh said the government's focus is on ensuring stability and growth of the steel industry.
"First, we are here to make sure that general consumer does not face any extra burden. Second, we have to look at ensuring the competitiveness of the industry. And third, we have to keep in mind the financial condition of the industry (issue of non performing assets)," he said.

He further said: "The government, as I have always said, is committed to nurturing the industry as well at the same time as ensure that the economy grows with the contribution of the steel industry.