Govt may hike safeguard duty on steel pdts if imports stay high, says source
This story was originally published at 19:06 IST on 4 July 2025
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--Govt source: May raise safeguard duty on steel pdts if imports stay high
NEW DELHI – The government may raise the safeguard duty on steel products if imports remain high, a top commerce ministry official said Friday. The government had Apr. 21 imposed 12% provisional safeguard duty on the import of some steel products for 200 days.
The government had imposed the safeguard duty to prevent cheap foreign goods flooding the domestic market. The duty was levied after the recommendation of the Directorate General of Trade Remedies to "eliminate the serious injury and threat thereof to the domestic industry" from any trade diversion caused by US tariffs.
India's iron and steel imports rose 12.3% on year to $3.67 billion in the first two months of the financial year 2025-26 (Apr-Mar). In FY25, India had imported iron and steel worth $22.64 billion, down 4.6% from FY24. End
US$1 = INR 85.39
Reported by Krity Ambey
Written by Shubham Rana
Edited by Rajeev Pai
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