The government fixed a minimum import price (MIP) of $752 per tonne on certain steel products.
(Representational image)
New Delhi: India on Friday set a minimum import price on steel to check cheap import of the commodity into the country and help the local industry.
The government fixed a minimum import price (MIP) of $752 per tonne on certain steel products. Imports into India will not be allowed below the prescribed minimum import price.
“MIP is introduced as against 173 HS Codes (products),” the Directorate General of Foreign Trade said in a notification. While products such as sheets and strips of flat-rolled products attract an MIP of $445, that of flat-rolled and coated products is $752.
( Source : Deccan Chronicle. )
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