India Strikes Back: Anti-Dumping Duty on Vietnamese Steel

India has levied an anti-dumping duty on Vietnamese steel imports to protect domestic producers. The duty, recommended by the DGTR and effective for five years, aims to level the playing field amid dumping concerns. India and Vietnam, both WTO members, engage deeply in bilateral trade.

In a decisive move to protect its domestic steel industry, India has slapped an anti-dumping duty of USD 121.55 per tonne on Vietnamese hot rolled flat steel products. The duty, which will be enforced for five years, was recommended by the Directorate General of Trade Remedies (DGTR) and announced by the finance ministry.

The imposition comes as domestic steel manufacturers voice concerns over cheap imports flooding the market. This move aligns India with multilateral practices under the World Trade Organization, where anti-dumping practices aim to foster fair trade by creating a level playing field for domestic and foreign producers alike.

Despite opposition from user industries that rely on imported materials, the steel manufacturers lauded the decision. It highlights growing bilateral trade between India and Vietnam, currently valued at USD 14.81 billion, with a notable trade deficit in favor of Vietnam, spotlighting the broader implications of such duties on international trade relations.

(With inputs from agencies.)