Indian government is considering increasing import duties on stainless steel to 57 percent

The Indian authorities intend to increase import duties on steel from China, Korea, the European Union, South Africa, Thailand and the United States to 57.39 percent of the customs value and extend them for another 5 years to protect the domestic market from unfair imports.

This is stated in the recommendations of the Directorate General on Antidumping Measures and Associated Duties of India, published on Wednesday.

“Having carried out an investigation in due course, we came to the conclusion that dumping and damage from it continue and, most likely, will intensify if the duties are canceled. We consider it necessary and expedient to recommend an increase in the anti-dumping duty and the extension of the measures for the next 5 years, ”reads the materials of the Directorate.

An anti-dumping duty on imports of cold rolled stainless steel was first imposed by India in April 2009.

The duties are due to expire this year, but at the request of Indian stainless steel producer Jindal Stainless, the Duty Directorate has ordered an additional investigation and today announced the results.

Now the decision on the extension and the rate of duties will be taken by the Indian Ministry of Finance. The Directorate recommends setting them in the range of 4.58 to 57.39 percent, depending on the supplier.

Earlier, the Indian government imposed a protective duty on imports of most types of steel products and metal products.