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Govt probing rise in steel product imports

Photo for representational purpose only. File photo

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India has initiated an investigation into a surge in imports of certain steel flat products, following a complaint from the Indian Steel Association (ISA). The Directorate General of Trade Remedies (DGTR), under the Ministry of Commerce, is examining the imports of non-alloy and alloy steel flat products, used across industries such as construction, automotive, and electrical panels.

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The ISA, representing steel majors like ArcelorMittal Nippon Steel, JSW Steel, and Steel Authority of India, filed a petition on December 15 under the Customs Tariff Act, 1975, seeking the imposition of safeguard duties on these imports.

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The DGTR will assess whether unforeseen factors have led to a sharp rise in imports, and whether this influx has caused a threat of serious injury to the domestic industry. The investigation will cover imports from October 2023 to September 2024, .

The probe comes amid concerns about excess steel production capacity in countries like China, Japan, and South Korea. The investingation will conclude within eight months.

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