India must double steel import duties to curb dumping, says ArcelorMittal JV CEO

India's steel industry faces threats from dumping and predatory pricing. ArcelorMittal Nippon Steel India CEO calls for doubled customs duties to protect domestic producers.

Reuters

October 08, 2024 / 13:20 IST

ArcelorMittal Nippon Steel India CEO, Dilip Oommen, urged the government to double customs duties on steel imports from the current 7.5% to 15%.

India is facing significant steel dumping and predatory pricing, prompting calls for action. ArcelorMittal Nippon Steel India CEO, Dilip Oommen, urged the government to double customs duties on steel imports from the current 7.5% to 15%.

Oommen highlighted that India's finished steel imports from China have reached a seven-year high in the first five months of the 2024/25 financial year. His remarks were made at the FT Live Energy Transition Summit India on Tuesday.

This is a developing story...

Reuters

first published: Oct 8, 2024 01:20 pm

Discover the latest Business News, Sensex, and Nifty updates. Obtain Personal Finance insights, tax queries, and expert opinions on Moneycontrol or download the Moneycontrol App to stay updated!

Subscribe to Tech Newsletters

Al Edge Newsletter On Saturdays

Find the best of Al News in one place, specially curated for you every weekend.
MC Tech 3 Newsletter Daily-Weekdays

Stay on top of the latest tech trends and biggest startup news.

Advisory Alert: It has come to our attention that certain individuals are representing themselves as affiliates of Moneycontrol and soliciting funds on the false promise of assured returns on their investments. We wish to reiterate that Moneycontrol does not solicit funds from investors and neither does it promise any assured returns. In case you are approached by anyone making such claims, please write to us at grievanceofficer@nw18.com or call on 02268882347