Parul
A five-year anti-dumping duty has been levied by the Centre on some Chinese steel. According to reports, the decision was made when it was discovered that Chinese exporters were selling steel products to foreign nations for a significantly lower price.
The finance ministry released a notification late on Monday night announcing the choice.
Last week, the steel ministry had said that it was monitoring the steel imports after it had received complaints of dumping of cheap Chinese steel products in India.
China was the biggest exporter of steel to India followed by South Korea during the April-July period of the current fiscal. China mainly exports sheets or cold-rolled coils to India. It is also the world’s top steel producer.
