India

India levies charge on some steel imports from China, Korea, Vietnam

Updated : June 24, 2020 10:12 AM IST

India has imposed an anti-dumping duty on flat rolled steel products that are plated or coated with alloy of aluminium and zinc originating in, or from China, Vietnam and South Korea, according to a government order issued on Tuesday.

The duty will be in the range of USD 13.07-USD 173.10 per tonne for 5 years, according to the statement.

In the last few days, India has taken steps to protect its domestic industry and push local manufacturing as Prime Minister Narendra Modi wants to make the nation self-reliant to bolster its sagging economy and create jobs.

Also Read: India clears 500,000 tonnes of corn imports at much-reduced duty in boost for poultry sector

The move to levy charges on imports from China is also seen as retaliation by New Delhi after 20 soldiers died in a face-off with Beijing at the Himalayan border. Indian and Chinese military officials on Tuesday agreed to disengage on the disputed border.

India levies charge on some steel imports from China, Korea, Vietnam

You May Also Like

Covishield roll-out: Serum Institute’s Adar Poonawalla gets vaccinated on Day 1

Coronavirus News Jan 15 highlights: As tally crosses 1.05 crore, India set to roll out world's biggest vaccination drive tomorrow

GAIL board approves Rs 1,046 crore share buyback

Trending on CNBC-TV18

recommended for you