Steel makers expect surge in imports

KOLKATA: Domestic steel makers are expecting a surge in import of steel and steel items in the country after the government eased import norms for the two products.

The Directorate General of Foreign Trade has allowed steel exporters to India to provide quality certification from “any international standard certifying body”, toning down its earlier policy that mandated certification from only a recognised body in the product’s country of origin.

“While subdued demand at home has made us look at exports, a rise in imports will once again disturb the demand-supply balance,” a senior executive at a leading steel maker said, requesting anonymity. The move may benefit auto and consumer durables makers.