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India steel firms meet government officials to seek rise in import duty: Sources

07-Feb-2019
India steel firms meet government officials to seek rise in import duty: Sources

Executives from top Indian steel companies met with government officials on February 6 and sought an increase in duties on imports of steel to check surging shipments from overseas, two sources with direct knowledge of the matter said.

Top Indian steel producer JSW Steel attended the meeting in which companies asked the government to implement higher duties or other short-term emergency measures to curb imports, the sources said.

JSW Steel did not immediately respond to a request seeking comment.

Indian steel firms are putting pressure on the nation's government to impose higher duties on imports as trade disputes and a global economic slowdown divert surplus Asian steel stocks to India, Reuters reported on February .


India's steel imports from Korea rose 30 percent during the nine months ended on December 31, while imports from Japan rose 28 percent during the same period, the sources said.

The steel ministry did not immediately respond to a request seeking comment. It has not yet made data on country-wise imports for the period public.



Source :- Moneycontrol.com

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