Import relief for Indian steel

摘要

Indian steelmakers, who were under tremendous pressure from cheaper supplies from China, got immense relief from the Central government's decision to extend the 20 per cent safeguard duty on selected steel product imports until March 2018. The duty, however, would be reduced gradually to 10 per cent in stages over the following two years. For instance, the 20 per cent safeguard duty would be extended until September this year. Thereafter, it will drop in a staged manner to 18 per cent between September 14, 2016 and March 13, 2017; 15 per cent from March 14, 2017 to September 13, 2017; and 10 per cent between September 14, 2017 and March 13,2018.