India imposes 20 per cent import tax on some steel imports: Finance Minister

New Delhi: India on Monday imposed a 20 per cent safeguard import tax on some steel products with immediate effect, Finance Minister Arun Jaitley told reporters.

Sources had said earlier that the import tax would be slapped on some hot-rolled steel products for 200 days as the government investigates a threat to domestic companies from rising supplies from China, Japan, South Korea and Russia.