look news india
Mumbai: Secretary of the Ministry of Steel said in an interview that at present it is difficult to say whether it will be decided to increase the security fee to 20 percent. In an interview to a TV channel, Steel Secretary Sandeep Pondrik said that the recommendation made by the Director of Treatment Treatment is currently being considered and a decision will be taken soon in this regard.
The Directorate General of Trade Treatment had recommended a 12 percent initial security fee for 200 days on some types of steel last month.
The secretary said that there is no reason to expect an increase in fees rates. The Directorate General of Business Treatment has been recommended after hearing various stakeholders.
In recent times, there has been a significant increase in India’s finished steel imports from China, South Korea and Japan. Since the US adopted a conservation policy in trade in 2018, steel imports in India have increased.
There is a danger of increasing steel dumping in India by the US once again adopting a conservation policy.
The secretary said that he does not believe that steel imports in India will increase due to the tariff war between the US and China. There has been no significant increase in imports from China so far. Whatever growth has come from Japan, not from China.
Security fee is not the only way to reduce dumping. Import licenses can also be controlled. India is the only major economy in terms of steel consumption where consumption has seen a two -digit increase in consumption.