The recommendations of the DG Safeguards were examined and confirmed by the Standing Board on Safeguards
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New Delhi: To protect the domestic industry from dumping, India on Monday imposed a 20 per cent safeguard import tax on some steel products with immediate effect. On the representations of the domestic steel industry, Director General of Safeguards had initiated safeguard investigations into alleged increased imports — especially from China — and consequent injury to domestic industry.
It had issued a preliminary finding last week recommending imposition of safeguard duty of 20 per cent ad-valorem, for 200 days on “hot rolled flat products of non-alloy and other alloy steel in coils of a width of 600 mm or more”.
The recommendations of the DG Safeguards were examined and confirmed by the Standing Board on Safeguards and later by the government.
( Source : deccan chronicle )
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