New Delhi, Feb. 17 -- If the Indian government imposes safeguard duties on steel imports it will have a limited impact on the domestic steel Industry, says a report by HDFC Securities.

The report mentioned that a large portion of steel imports--around 62 per cent--comes from countries with which India has Free Trade Agreements (FTAs) so imports from these countries will have limited impact because of the FTAs.

It said, "the levy of duty would have limited impact as majority of steel (around 62 per cent) is imported from FTA countries at nil duty and any duty hike will not have any impact on these shipments".

The report highlighted that the majority of the steel imports to India come from countries like Japan, South Korea, Mauritius, an...