Tata Steel Seeks Duties On Cheap Steel Imports

Mumbai: Tata Steel CEO and Managing Director T.V. Narendran on Friday said the government is considering the steel industry’s request for the imposition of anti-dumping duties very seriously as cheap Chinese imports are flooding the Indian market and the situation looks even grimmer in the wake of a possible hike in US tariffs.

Narendran said he is hopeful that the government will soon issue an update on the issue after detailed clarifications received from the industry. The Indian Steel Association (ISA) has already filed an application with the Directorate General of Trade Remedies (DGTR) on the dumping issue which is under review.

Speaking to media, Narendra said India is one of the best places in the world to produce steel and the Indian steel industry has built very modern and efficient steel plants. The country was also endowed with a lot of iron ore reserves. However, the issue is the low price that foreign entities are willing to sell steel.