India extends countervailing duty on welded stainless steel pipes and tubes from China and Vietnam
New Delhi: The Indian government has extended the countervailing duty on imports of welded stainless steel pipes and tubes from China and Vietnam for another five years, media reports said, citing a Union Finance Ministry order on Wednesday.
This duty was first imposed in September 2019.
India will continue to levy a countervailing duty of 12 percent on these steel products from Vietnam and 30 percent on those from China, aiming to protect and promote the domestic industry.
These duties are typically imposed after investigations by the Directorate General of Trade Remedies (DGTR), which evaluates the evidence and determines if subsidies are negatively impacting local industries.
On June 15, the DGTR, under the Ministry of Commerce, confirmed the continuation of these countervailing measures, stating that removing the duties would harm Indian steel manufacturers.
The investigation was initiated following complaints from industry bodies such as the Stainless Steel Pipe and Tubes Manufacturer Association and regional groups from South India and Haryana, according to a Moneycontrol report.
It revealed that these products were being exported to India at below-cost prices due to government subsidies.
In India, welded stainless steel pipes and tubes are essential across multiple sectors due to their strength and resistance to corrosion.
They are widely used in construction for structures and handrails, as well as in the automotive industry for exhaust systems and fuel lines.
Support Our Journalism
We cannot do without you.. your contribution supports unbiased journalism
IBNS is not driven by any ism- not wokeism, not racism, not skewed secularism, not hyper right-wing or left liberal ideals, nor by any hardline religious beliefs or hyper nationalism. We want to serve you good old objective news, as they are. We do not judge or preach. We let people decide for themselves. We only try to present factual and well-sourced news.
Support objective journalism for a small contribution.
