Safeguard Duty On Steel Imports Likely

New Delhi: The government is considering a proposal to impose safeguard duty on steel imports, Union Steel Minister H D Kumaraswamy said on Thursday.

“The process is going” on the ministry’s proposal to impose a 25 per cent duty on steel imports, Kumaraswamy said on the sidelines of an event here. On December 2, the steel ministry in a meeting with the commerce department had proposed for a 25 per cent safeguard duty on certain steel products imported into the country.

The steel minister and Commerce and Industry Minister Piyush Goyal were present in the meet-ing. A final call on imposing the duty can be taken by the finance ministry on recommendations of the ministry of commerce. Domestic steel players have been consistently raising concerns over increasing cheap imports of steel from select nations, affecting their competitiveness. Steel Secretary Sandeep Poundrik last month said more than 60 per cent of steel imports come from FTA (free trade agreement) coun-tries at nil duty and any duty hike will not have any impact on these shipments.