look news india
India's steel and commerce ministries are discussing rising steel imports, particularly the influx of cheap Chinese steel products.
The deal comes amid concerns expressed by top producers over high imports. According to government data, India became a net steel importer in the financial year ended March, with finished steel imports hitting a five-year high in April and May. According to the data, India imported 11 lakh metric tonnes of finished steel in April to May. Which was 19.8 per cent more than last year. The Steel Ministry has informed the Commerce Ministry about the rising imports and the industry has demanded an investigation into the matter. India is eyeing cheap imports from China. In recent months, China has become the top exporter of steel to Asia's third-largest economy. Concerned about these rising imports, India's steel industry has repeatedly requested the government to intervene in the matter. Regarding this, people associated with the steel industry have demanded before the government that the basic customs duty on steel should be considered to be increased from 7.5 per cent to 12.5 per cent.