Indian steel industry suggest to re-adjust the anti-dumping tax standards
According to sources, the Indian Ministry of Steel has recommended that the Ministry of Commerce re-adjust the criteria for anti-dumping duties on steel products to many countries including China, in order to protect Indian domestic companies from cheaper imported steel products more effectively.
The Ministry of Steel believes that in some cases taxation does not completely prevent product dumping, and the government must also initiate anti-circumvention trade investigations.
The Indian steel industry hopes that the Ministry of Commerce can exclude steel products from the scope of the large-scale free trade agreement proposed by the Regional Comprehensive Economic Partnership (RCEP).
The industry believes that lowering steel tariffs will lead to a large influx of steel products from neighboring countries into India, which will have a serious impact on India's domestic steel manufacturing industry.
The Regional Comprehensive Economic Partnership (RCEP) is initiated by the 10 ASEAN countries and invites China, Japan, South Korea, Australia, New Zealand and India to participate (“10+6”), through tariff reduction and non-tariff barriers to establish a free trade agreement for the unified market of 16 countries. If the negotiation is agreed, it will cover about 3.5 billion people and the total GDP will reach 23 trillion US dollars that is 1/3 of the global total amount. The covered area will also become the world's largest free trade zone.
Shanghai All-Win Iron & Steel company has exported to India for steel pipes, steel profiles and steel machining products. And hope to develop the India market further at win-win system.