New Delhi, Aug. 18 -- The three-year safeguard duty on steel imports by Directorate General of Trade Remedies (DGTR) could cripple the auto, engineering, and construction sectors by pushing up input costs and squeezing downstream users, stated a report by the Global Trade Research Initiative (GTRI).

The safeguard duty, confirmed on August 16, will start at 12 per cent in the first year, followed by 11.5 per cent in the second year and 11 per cent in the third year.

DGTR stated that the decision is taken due to a sharp surge in steel imports, especially from China, and a steep fall in domestic industry profits.

However, GTRI stated "that duties would cripple auto, engineering, and construction sectors".

DGTR launched probe in December ...