Naveen Jindal, President of the Indian Steel Association (ISA), described the proposal to impose a safeguard duty on flat steel imports for three years as a positive step.
Jindal noted that although the proposed 12% duty does not fully reflect the geopolitical context, where a 25% rate is considered the norm in some cases, the government has clearly demonstrated its openness to using such measures to support the steel sector in line with the Aatmanirbhar Bharat (self-reliant India) vision.
As Chairman of Jindal Steel, he also highlighted that establishing a safety net through minimum import price triggers for the proposed duty is another positive step, as it helps protect and support sub-sectors of the industry.
The Directorate General of Trade Remedies (DGTR), under the Ministry of Commerce, recommended the imposition of a safeguard duty on certain flat steel products for three years in order to protect domestic producers from sudden import surges.
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