Posted on 03 Dec 2015
The basket of products that faced a 20% safeguard tax might be widened beyond hot-rolled coil, Sundararajan said by phone from New Delhi yesterday. The curbs, which could include additional measures, might be announced in two weeks, she told television channel CNBC TV18 earlier.
India is among countries facing a surge in steel shipments from China, the world’s top producer, where slowing local consumption has spurred mills to ship unprecedented volumes. India’s plan for additional barriers adds to signs that importers are pushing back with greater vigour against the tide, potentially capping China’s exports into 2016.
“In the coming few weeks, India will have tough measures in place to provide a level playing field for domestic producers,” Sundararajan said. “We are increasingly looking at anti-dumping duties. We have observed that there are wide differences in the subsidies given to some overseas products and the prices at which they are sold in India.”
India’s imports might jump to 14 million tonnes-15 million tonnes in the year ending March 31, she said. Inbound shipments were 10 million tonnes in 2014-15, ministry data shows.
