Indian stainless steel industry claims Budget 2021 encourages dumping of China
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Update time : 2021-02-09 17:14:14
The stainless steel manufacturing industry criticized on February 1 that the India Budget 2021's reopening of the gate for Chinese companies will lead them to dump their products on the Indian market.
The budget plans to reduce the import tariffs on semi-finished products, plates, and long products of non-alloy, alloy, and stainless steel to 7.5%, and eliminate the scrap steel tariffs until March 31, 2022.
The Indian Stainless Steel Development Association (ISSDA) believed that it will severely damage the Indian stainless steel industry.
India's largest stainless steel producer mentioned that the industry is eager to promote a "self-reliance program", but subsidized imports from China will hinder Indian manufacturing, and steel mills in India hope to compete fairly.
