Anti-dumping duty on 47 steel products were imposed by India for a period of 5 years, reinforcing government’s tough stance despite complaints from some of the targeted countries.
India’s steel imports during April 2016 to January 2017 was seen to decrease 38 percent when compared to same period last year. The decrease imports is believed to have happened because of the good deal of protection measures taken by the government.
The anti-dumping dumping duty is charged for hot-rolled flat products of alloy or non alloy steel products which originated or exported from China, Japan, Korea, Russia, Brazil and Indonesia.
An anti-dumping duty is a protectionist tariff that a domestic government imposes on foreign imports that it believes are priced below fair market value.
Dumping is a process where a company exports a product at a price lower than the price it normally charges on its own home market.
India imposes anti-dumping duty on 47 Steel products
