New Delhi, April 22 -- The government on Monday imposed a 12 per cent provisional safeguard duty for 200 days on five steel product categories to protect domestic manufacturers from a surge in imports.
This decision follows a recommendation by the Directorate General of Trade Remedies (DGTR), the commerce ministry's investigation arm, which had suggested the implementation of such measures last month.
The government has established import price thresholds ranging from USD 675 per tonne to USD 964 per tonne for the five steel product categories. Any shipments imported below these prices will be subject to the safeguard duty.
According to the notification, the duty shall not be imposed on products imported into India at or above the spec...
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