As per media reports, Indian government is mulling levying a safeguard duty of up to 15% on certain steel items to protect the domestic industry against cheap imports.
The report cited a government official as saying that endorsing the industry's concern that surge in steel import is affecting the domestic market, the government has initiated an investigation and will soon decide on quantum of safeguard duty to be levied on products like hot rolled coils, sheet and strips.
The official added that "The safeguard investigation has been initiated for HR coils and a few other steel products. If recommended, the duty could be in the range of 10% to 15%.”