Shillong, September 12: India has initiated a five-year anti-dumping duty on select Chinese steel, as evidence suggests that Chinese exporters are selling steel products to foreign nations at significantly lower prices.
As per IANS, the finance ministry made this announcement late on Monday through an official notification. This decision comes after the steel ministry’s acknowledgment of complaints regarding the influx of inexpensive Chinese steel products into India.
During the current fiscal period from April to July, China emerged as India’s primary steel supplier, primarily exporting sheets and cold-rolled coils. Notably, China holds the title of the world’s largest steel producer.