Safeguard Duties on Steel Imports: A Shield or a Setback?

The Directorate General of Trade Remedies (DGTR) has recommended a final safeguard duty on certain flat steel imports for three years to protect domestic manufacturers. The move, opposed by stakeholders like GTRI and major industries, aims to address the surge in imports but could impact various sectors.

The Directorate General of Trade Remedies (DGTR) has recommended the imposition of a final three-year safeguard duty on certain flat steel products. This measure aims to protect domestic manufacturers from a sudden surge in imports.

Based on a complaint by the Indian Steel Association, the DGTR conducted a probe, revealing that the influx of steel imports threatens domestic industry. Initially, a 12% provisional duty was placed in April.

Opposition from stakeholders like the Global Trade Research Initiative (GTRI) has emerged, warning that the duty could raise costs and affect sectors such as automotive and construction. Debate continues over the potential economic impact of this decision.

(With inputs from agencies.)