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Tune in on 17th July for the Small Business Virtual Summit with Cisco. Register now!
Last Updated : Jul 22, 2015 05:59 PM IST | Source: PTI

Stainless steel imports up 49% in FY15: Govt

India, world's third largest steel producer, had imported 3.7 LT of stainless steel in 2013-14, showed data presented by Minister of State for Steel Vishnu Deo Sai in the Rajya Sabha.


India's stainless steel imports surged 49 percent to 5.5 lakh tonnes (LT) in the last financial year, Parliament was informed on Wednesday.

India, world's third largest steel producer, had imported 3.7 LT of stainless steel in 2013-14, showed data presented by Minister of State for Steel Vishnu Deo Sai in the Rajya Sabha.

In value terms, imports of the metal rose by 23 percent to Rs 5,918.9 crore in 2014-15, as against Rs 4,801.9 crore in 2013-14, the data showed.

"Domestic steel manufacturers and other stakeholders have been representing against the surge in imports of steel," Sai told the Upper House.

To ensure only quality steel is imported, the government has notified Steel and Steel Product (Quality Control) Order dated March 12, 2012 and subsequent order on December 4, 2014, he added.

Besides, the government has imposed anti-dumping duty on hot rolled flat stainless steel imports from China, Malaysia and South Korea as well as raised the basic customs duty on various categories of steel by 2.5 percent, the minister said.

First Published on Jul 22, 2015 05:59 pm
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