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The move aims to protect domestic producers from surging imports from countries like China and Russia. Photo: AFP
The move aims to protect domestic producers from surging imports from countries like China and Russia. Photo: AFP

Govt raises import duty on some steel products

The govt has raised import tax to 10% from 7.5% on flat steel and to 7.5% from 5% for long steel products

Mumbai: The government has raised import duties on certain steel products by up to 2.5 percentage points in a bid to protect domestic producers from surging imports from countries like China and Russia.

The government has raised import tax to 10% from 7.5% on flat steel and to 7.5% from 5% for long steel products, according to a government notification issued on Wednesday.

Earlier this month, the government imposed anti-dumping duties ranging from $180 to $316 per tonne on some industrial-grade stainless steel in a bid to stem the flood of imports. Reuters

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