More steps will be taken to protect domestic steel industry: India

More steps will be taken to protect domestic steel industry: India
01/02/2016 , by , in ALLIED

India’s Steel Minister Narendra Singh Tomar said that additional steps will be taken to protect domestic steel industry, which is facing a bad patch, in wake of cheap Chinese imported steel.

“China was trying to dump its cheap steel in India and as a result of it, the domestic steel industry was in distress. To protest domestic industry, we enhanced import duty and imposed safeguard duty. But these steps were not enough and we will be taking additional steps in this regard”, said Tomar.

Steel ministry along with the Finance and Commerce ministries is engaged in a dialogue to work out the steps that need to be taken for protecting domestic steel industry in the near future, according to media report.

“China is offering steel at half price compared to domestic industry in India. The way China is working, it appears (that) an economic war was on,” he said.

The Minister further said state run steel production centres are been expanded and modernised and four new steel plants were being set up in Jharkhand, Odisha, Chhattisgarh and Karnataka.

Tomar said the Centre is also going to set up 6 to 7 plastic parks across the country. Meanwhile, on the imposition of President’s Rule in Arunachal Pradesh, he said that the Congress government in Arunachal Pradesh was reduced to a minority and the law and order situation became worrisome in that state.

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