As a response to the influx of steel imports, especially from China, India has imposed a 12% safeguard duty on certain steel products. This is a tactical decision to shield the domestic steel industry from price undercutting, safeguard jobs, and ensure market stability. The duty, recommended by the Directorate General of Trade Remedies (DGTR), is a crucial measure to bolster India's industrial prowess in the wake of changing global trade paradigms. For MSMEs and procurement managers within the steel industry, this policy shift may cause price volatility and alter sourcing practices.
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