Safeguard duty should help in curbing predatory steel pricing & surging imports

KOLKATA: The safeguard duty should help in curbing predatory pricing and surging imports which has seen an increase of about 60% over the corresponding period of last year, T V Narendran, Managing Director, Tata Steel (India & South East Asia) has said while commenting on the government decision to impose 20% safeguard duty on steel imports.

As per the report released by World steel Dynamics on the most competitive steel plants, six out of top 32 steel plants are from India, hence the domestic steel industry needs to be nurtured by improving factor costs like logistics costs, regulatory costs and cost of capital. India should assess the pros and cons of bilateral and multilateral trade agreements to achieve its stated objectives including strengthening domestic industries," he added.