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India's steel ministry not seeking any hike in steel import duty-彈簧展-2024第二十四屆廣州國際彈簧工業展覽會--巨浪展覽-Spring Industry Exhibition -The 24th China(Guangzhou)Int’l Spring Industry Exhibition
1/15/2024 彈簧展 - Spring Industry Exhibition |
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India''s ministry of steel wil not be making representation to its counterparts in the ministry of finance seekina hikes in
import duties in the forthcoming national budget 2024-25, a ministry of steel official said on Friday, January 12.The official said that,despite several representations received from domestic steel companies seeking hikes in importduty against the backdrop of the country becoming a net importer of steel, the ministry did not favour moving towards ahigher import duty regime as domestic demand remained very robust.
Local steel companies have sought an increase in the import duty on steel which currently stands at 7.5 percent.According to the oficial. even though no increase in import duty is under consideration, the government is keeping aclose watch on the volume of imports, particularly from China. The government is, however, considering non-tariffbariers to imports like mandatory quality checks at major ports, and shipments of steel products not compliant withstandards laid down by the Bureau of indian Standards (BIS) will not be accorded customs clearance
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