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Home > All news > Trade > Majority of steel imports under FTAs, making any duty hike ineffective, says Steel Secretary

Majority of steel imports under FTAs, making any duty hike ineffective, says Steel Secretary

November 22, 2024
Reading Time: 2 minutes
Majority of steel imports under FTAs, making any duty hike ineffective, says Steel Secretary

New Delhi - Around 62 per cent of steel imports are landing from FTA countries at nil duty and any duty hike will not have any impact on these shipments, Steel Secretary Sandeep Poundrik said  recently while acknowledging that there is a genuine problem of supply glut due to increased imports.

His comments have come against the background of domestic steel players raising concerns over rising cheap steel imports from select nations, affecting their competitiveness. The domestic industry has also sought an increase in customs duty on steel products to check below cost shipments.

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Disclaimer: This information has been collected through secondary research and Daily Shipping Times is not responsible for any errors in the same.

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