BackGovt initiates anti-dumping investigations for steel items
Govt initiates anti-dumping investigations for steel items
By PTI
New Delhi: The government has initiated a probe into the alleged dumping of steel items in India by countries including China after finding “sufficient evidence" of injury to the domestic industry amidst the global meltdown.
While initiating investigations concerning imports of hot-rolled and cold-rolled steel products, which are widely used by sectors like automobile and construction, the Commerce Ministry said it would determine the existence, degree and effect of the alleged dumping to recommend the amount of duty.
“The designated authority hereby initiates investigation into the alleged dumping and consequent ‘injury´ to domestic industry...to determine the existence, degree and effect of alleged dumping to recommend the amount of anti-dumping duty, which if levied would be adequate to remove injury to the domestic industry," the Ministry said in a notification.
The period of present investigation would be from April 1 2007 to September 2008. The injury investigation, however, would cover periods from April 2004 to March 2007, while for threat of injury the data beyond it would also be examined.
Country’s leading steel producers Essar, JSW, Ispat and Jindal Stainless had filed applications with the government for investigating dumping of the commodity, saying that cheap inflow of steel items are coming to India from overseas where inventories have piled up due to slackening demand.
In pursuance of the applications filed by steel majors, the Commerce Ministry has initiated investigations for shipments from China, Indonesia, Iran, Japan, Kazakhstan, Malaysia, Romania, Russia, South Africa, Saudi Arabia, Korea, Thailand, Turkey, Ukraine, European Union, South Africa, Taiwan and the US.
Unlock a world of Benefits! From insightful newsletters to real-time stock tracking, breaking news and a personalized newsfeed – it's all here, just a click away! Login Now!
