The Ministry of Commerce and Industry released details on the matter in a statement released on Wednesday.
Last year, the Ministry launched an investigation into some steel imports, analyzing the threat and damage caused by shipments originating in Vietnam to the Indian steel sector. The newly implemented duty covers hot-rolled plain steel products, whether alloyed or unalloyed.
The Ministry stated, “The domestic steel sector has been harmed by low-priced imports. The damage is positive and significant.” It also warned that domestic plants would be further threatened if antidumping duties were not imposed on certain other Vietnamese-origin products.
In April, India imposed a 12% temporary tariff, locally known as a safeguard duty, on some steel imports to curb the rise of cheap shipments from China.
Source: Reuters
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