Steel processing industry says import safeguards one-sided

Steel processing industry says import safeguards one-sided
15/06/2016 , by , in ALLIED

Downstream steel processing body Federation of Industries in India has alleged that protection provided by the government to domestic “steel-producers” is one-sided.

“The protection provided by the government to the domestic steel producers is one-sided. The steel consuming industry sector has neither been consulted nor heard by the steel ministry before talking important decisions like imposing of MIP, Safeguard Duty, increasing customs duty and also while placing the steel imports under BIS certification scheme,” the Federation of Industries in India(FII) said in a letter to the steel ministry.

The industry body, representing 400 members that employ around 30 lakh people, mostly belonging to SME units, said these measures have benefitted only a few large producers like SAIL, JSW, Tata Steel by virtually banning import of steel.

Steel prices are being raised by the producers by Rs 1,200 to Rs 1,500 per tonne every month ever since the MIP was imposed in February 2016, the letter said.

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