The Government of India has announced new import tariffs on certain steel products for the next three years as part of efforts to counter a surge in cheap steel shipments and protect domestic producers. The safeguard duty, set between 11% and 12%, is aimed at addressing the sharp rise in imports that has impacted the domestic steel industry.
Under the new tariff structure, the levy will be applied at 12% in the first year, reduced to 11.5% in the second year, and further lowered to 11% in the third year. The duty applies to select steel products, while some specialty steel items have been kept outside its scope.
The move follows recommendations from trade authorities, which highlighted a sudden and significant increase in steel imports that posed a risk of serious injury to local manufacturers. Officials said the tariff would help create a level playing field for Indian producers.
Steel stocks reacted positively to the announcement, as investors expect the measure to support domestic prices and improve stability for the sector over the medium term.
Bharat Sarkar ne chuninda steel products ke import par agle 3 saal ke liye naya tariff lagu kiya hai, taaki saste steel imports par lagam lagayi ja sake aur desi steel industry ko protection mile.
Naye rule ke mutabiq, pehle saal 12% duty lagegi, doosre saal 11.5% aur teesre saal 11% duty apply hogi. Ye tariff kuch select steel products par lagu hoga, jabki kuch specialty items ko isse bahar rakha gaya hai.
Ye faisla trade authorities ki recommendation ke baad liya gaya hai, jisme kaha gaya tha ki steel imports me achanak aur tez badhotri se domestic manufacturers ko nuksaan ho raha hai. Sarkar ka kehna hai ki is kadam se local steel makers ko relief milega.
Announcement ke baad steel companies ke shares me bhi tezi dekhi gayi, kyunki market ko lagta hai ki ye measure domestic steel prices aur industry stability ko support karega.