India Imposes Anti-Dumping Duty On 47 Steel Products For 5 Years


According to a government statement, India has imposed anti-dumping duty on 47 steel products, reported a leading English daily.

A series of protection measures announced by the government led India’s steel imports to drop 38% year-on-year basis between April 2016 and January, according to the government data.

The anti-dumping duty is levied on hot-rolled flat products of alloy or non-alloy steel, originating in or exported from China, Japan, Korea, Russia, Brazil and Indonesia, the statement, issued late on Thursday, said.

An anti-dumping duty is a protectionist tariff that a domestic government imposes on foreign imports that it believes are priced below fair market value.

Dumping is a process where a company exports a product at a price lower than the price it normally charges on its own home market.

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