Indian Government Extends Anti-Subsidy Duty on Steel Imports from China and Vietnam
The Indian government has announced a five-year extension of the anti-subsidy duty on imports of welded stainless steel pipes and tubes from China and Vietnam. This measure, initially imposed in September 2019, aims to protect domestic manufacturers from the adverse impacts of subsidized imports.
According to a notification from the finance ministry, the extension of this countervailing duty is a response to findings from an investigation by the Directorate General of Trade Remedies (DGTR). The probe, which was prompted by complaints from industry associations such as the Stainless Steel Pipe and Tubes Manufacturer Association and regional groups from South India and Haryana, uncovered that these steel products were being sold in India at prices below their production costs due to subsidies.
TV Narendran, Managing Director and CEO of Tata Steel, highlighted the broader implications of this issue during his address at the AIMA National Management Convention on September 11. "The significant problem is that China is selling steel at prices below production costs, affecting the global industry," Narendran stated. "We should not allow them to export their financial issues to us."
The extension of the anti-subsidy duty reflects the government's commitment to supporting local steel producers and maintaining fair market conditions in the industry.
