India Imposes 12% Safeguard Duty on Select Steel Imports to Protect Domestic Industry
| Key Aspect | Details |
|---|---|
| Event | 12% provisional safeguard duty on select steel imports imposed by the Government of India. |
| Effective Date | April 21, 2025 |
| Objective | Protect domestic steel industry from low-cost steel imports. |
| Major Exporting Countries | China, South Korea, and Japan. |
| Steel Import Volume (2024-25) | 9.5 million metric tons (highest in nearly a decade). |
| Investigation Body | Directorate General of Trade Remedies (DGTR) initiated in December 2024. |
| Products Covered | Hot-rolled coils, sheets, plates, cold-rolled coils, sheets, metallic-coated steel, and colour-coated steel. |
| Duration of Duty | 200 days (provisional measure). |
| Key Domestic Steel Companies | Tata Steel, JSW Steel, SAIL, ArcelorMittal Nippon Steel India. |
| Expected Impact | - Domestic manufacturers: Stabilized prices, improved profit margins. |
| - Steel-consuming industries: Moderate rise in input costs. | |
| - International trade relations: Potential diplomatic or trade friction. | |
| Government Stance | Temporary and corrective, not a long-term barrier to free trade. |
| Future Measures | Possible extension or adjustment of the tariff, or introduction of long-term trade remedies like anti-dumping duties. |