Press Trust of India reported that the Indian government has turned down a demand for imposition of safeguard duty on imports of certain steel and aluminium products, saying the domestic industry is not being hurt by imports.
The Standing Board on Safeguard headed by commerce secretary Mr Rahul Khullar and comprising of steel secretary Mr PK Rastogi, among others, rejected the recommendations of Directorate General of Safeguards for imposition of the duty on the imports.
Mr Rastogi after the meeting of the board told PTI that "We have considered every aspect and did not find sufficient reasons for safeguard duty on imports of key steel and aluminium products.”
DGS had recommended the duty imposition after examining the industry's demand. In its revised draft, the DGS had reached a benchmark of INR 27,000 a tonne. The difference between the landed cost of the imported consignment and the benchmark should have been the safeguard duty on flat steel products like hot rolled coils. The DGS had also recommended 10 per cent duty on imports of certain aluminium and its waste and scrap.
(Sourced from PTI)
Thursday, August 27, 2009
India rejects demand for safeguard duty on HR steel and aluminium
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