Extending its safeguard measures for the domestic players and retaining the protectionist barriers, India has extended anti-dumping duty on some steel products from China by five years. The levy has been imposed in the range of $961.33 to $1,610.67.Earlier, the government had imposed a provisional anti-dumping duty on the import of seamless tubes, pipes and hollow profiles of iron, alloy or non-alloy steel, whether hot-finished or cold-drawn or cold-rolled of an external diameter not exceeding 355.6 mm, effective May 17 last year.
The provisional levy was imposed on the recommendation of the Directorate General of Anti-Dumping And Allied Duties (DGAD). The DGAD in its final findings had made a case for definitive anti-dumping duty on the steel products. Acting on the recommendations, the Central Board of Excise and Customs (CBEC) in the revenue department has now imposed a definitive anti-dumping duty. As per the latest announcement, the anti-dumping duty shall be effective for a period of five years from the date of the imposition of the provisional anti-dumping duty.
Steelmakers such as JSW Steel, Tata Steel, and Steel Authority of India have lobbied for more measures to protect them from cheaper imports from China, Japan and South Korea. Indian steel companies remain exposed to imports from other Asian countries. The purpose of anti-dumping duties, in general, is to eliminate injury caused to the domestic industry by the unfair trade practices of dumping.