The state government of Odisha has urged the Union government to reimpose anti-dumping and countervailing duty on steel imports for the benefit of domestic manufacturers.
On Monday, the Minister of State for Industries and MSME, Dibya Shankar Mishra, wrote to the finance minister, Nirmala Sitharaman, on how revoking the ADD and CVD on stainless steel (SS) products would promote the disposal of cheap metal in India by countries like China.
“This (re-imposing ADD and CVD) would keep track of the exports from China and Indonesia and would favor the domestic producers who have invested heavily, so the metal and steel clusters could develop without disruptions,” he claimed, adding that Odisha is a leading steel manufacturer state with an investment of over Rs1.5tn ($20.11bn) in the sector along with Rs8bn ($107.3mn) meant for downstream industries.
Mishra pointed out that the US has imposed 25pc duty on imports for their industries, and that it is advisable to maintain ADD and CVD on imported steel.
($1 = Rs 74.61)