Steel duty walls were not working as a global industry beset by over-capacity was dumping their steel in India (Shutterstock)The government will consider a minimum import price for select steel items, including flat products and stainless steel, besides stricter quality control of all steel imports. They said a committee to fix a minimum import price is being set up. The minimum import prices, if allowed by the cabinet, will replace the temporary safeguard duties which were set last year, though the basic customs duty will remain, said the officials. There is an urgent need for government intervention,” Jindal Stainless Steel MD Abhyuday Jindal said in a statement sent on WhatsApp. Minimum import price and quality control came on the picture following a defeat last November in a dispute with Japan at the WTO on safeguard duties .

Source: The Telegraph February 06, 2019 19:41 UTC