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India’s Directorate General of Trade Remedies (DGTR) has recommended a three-year safeguard duty on select steel imports to protect domestic producers from a surge in low-cost supplies, particularly from China.
The proposed tariff will start at 12% in the first year, tapering to 11.5% in the second year and 11% in the third year. Officials noted that the sharp rise in imports has put pressure on Indian producers, threatening capacity utilization and overall industry growth.
The move comes after a temporary 12% safeguard duty was introduced in April. The extended duty is expected to provide stability for steelmakers like Tata Steel, JSW Steel, SAIL, and JSPL, allowing them to compete fairly against global suppliers.
Market reaction has been positive, with shares of major steel companies gaining up to 3% following the news, signaling investor confidence in stronger trade protections.
If cleared by the Finance Ministry, the measure will reinforce India’s long-term strategy to safeguard its steel sector and reduce the impact of Chinese exports on the domestic market.
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