The government is looking into issues surrounding dumping of certain categories of steel products into the Indian market, Steel Secretary Nagendra Nath Sinha said on November 7. The statement comes amid the industry raising concerns over the rise in steel imports.
In October India remained the net importer of steel. The Ministry of Finance is looking at dumping issues of certain categories of steel products and will take a final call on the anti-dumping duty, Sinha told reporters at the '4rth ISA Steel Conclave' event here.
According to SteelMint India, the country's steel imports were higher at 0.46 Million Tonnes (MT) in October, compared to 0.24 MT exports. On coking coal supplies, the official said the government is making efforts to secure coking coal through alternate sources and is in talks with Russia and Mongolia for supply of the steel-making raw material.
India is the largest importer of metallurgical coal, which includes Pulverised Coal Injection (PCI) with annual inbound shipments in the range of 70-75 MT. The imports are mainly from countries like Australia, the US, Canada, and Mozambique.
When asked about the second phase of the production-linked incentive for the steel sector, the secretary said it is at the discussion level. Meanwhile, Tata Steel CEO & MD T V Narendran said India being a net importer of steel is a matter of concern.
The government has assured intervention, if imports remain on the rise, Narendran said.
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