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The Finance Ministry of India has imposed anti-dumping duties ranging from USD 180 to USD 316 per tonnes for some of the Industrial-grade stainless steel imported from China, Malaysia and South Korea.
In March the trade ministry of India said that the domestic industry was suffering “material injury due to such dumped imports” and a definitive measure was required to stop it.
On Friday the Finance Ministry said that the anti-dumping duties will be effective for a period of five years.
“It’s a welcome move and a necessary one to save the domestic industry which (is) at the suffering end,” said N.C. Mathur, president of the Indian Stainless Steel Development Association.
