New Delhi - The Finance Ministry of India on Monday imposed an anti-dumping duty on some Chinese steel for a period of five years, according to the official gazette of the Ministry.
Earlier, on September 4 of this year, India’s steel secretary, Nagendra Nath Sinha, said New Delhi was monitoring the steel imports situation after the steel industry raised concerns over potential dumping by Chinese sellers.
“Evidence of export price indicates that the Chinese exporters are exporting the goods to third countries at significantly dumped and injurious prices,” said the Finance Ministry’s gazette on the reason behind this order of imposing anti-dumping duty.
During April-July, China was the second biggest steel exporter to India, after South Korea, selling 0.6 million metric tons, up 62% from the same period a year earlier.
In all, India imported 2 million metric tons of finished steel in the period, the highest since 2020 and up 23% from a year earlier.
China, the world’s top steel producer, exported mostly cold- rolled coil or sheets to India.
Indian government has already imposed anti-dumping duty on several products to tackle cheap imports from various countries, including China.