Safeguard duty to curb influx of steel import from select countries: ISA

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Safeguard duty to curb influx of steel import from select countries: ISA - Business Standard

Quick Summary:

The government's decision to impose a 12 per cent provisional safeguard duty on imported flat steel products will help curb "the influx of cheap imports, primarily from China, South Korea, and Japan", the Indian Steel Association (ISA) said on Wednesday.

"This measure aims to curb the influx of cheap steel imports, primarily from China, South Korea, and Japan," the ISA said in a statement.

Further, ISA said India became a net importer of finished steel for the second consecutive year, with imports reaching a nine-year high of 9.5 million metric tonnes in 2024-25.