GTRI calls for assessment of steel industry before imposing safeguards

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GTRI calls for assessment of steel industry before imposing safeguards - Business Standard

Quick Summary:

Economic think tank GTRI on Thursday called for a comprehensive assessment of the Indian steel industry to evaluate the impact of existing import measures before imposing the proposed safeguard duty.

The Global Trade Research Initiative (GTRI) report has also claimed that the commerce ministry's ongoing safeguard investigation into alleged jump in imports of certain steel products suffers from "several" technical weaknesses such as focus on products with minimal import surges, and inappropriate use of global safeguards.

"Conduct a study on the state of the steel industry in India and assess the impact of proposed and existing import measures on resulting higher costs, economic growth and jobs.