Tuesday, Apr 22 2025 | Time 20:03 Hrs(IST)
States » SouthPosted at: Apr 21 2025 10:07PM


HDK hails 12 pc safeguard duty on imported steel

Bengaluru, Apr 21 (UNI) In an endorsement of the government's latest move to safeguard the domestic steel industry, Union Minister HD Kumaraswamy on Monday welcomed the imposition of a 12% safeguard duty on imported steel flat products.
He remarked, "I welcome the 12% safeguard duty on imported steel flat products. This will protect Indian manufacturers, ensure fair competition, and boost our domestic industry." Kumaraswamy further expressed his gratitude, saying, "I am grateful to Hon’ble PM Shri @narendramodi avaru for his continued support towards building a self-reliant India."
The Ministry of Finance, Department of Revenue, has imposed this provisional safeguard duty on imports of non-alloy and alloy steel flat products, including hot-rolled coils, sheets, and plates, cold-rolled coils, and metallic-coated steel products.
The decision follows a report from the Director General (Trade Remedies), which revealed a sudden and significant increase in imports of these goods, threatening to cause serious harm to domestic producers.
In line with the Director General's findings, which highlighted the urgency of protecting the domestic industry, the Central Government has implemented the safeguard duty at the rate of 12% ad valorem. However, certain exceptions will apply based on import price thresholds for specific categories. Notably, imports from developing countries, excluding China and Vietnam, will be exempt from this duty.
The safeguard duty will remain in effect for 200 days unless amended or revoked earlier. This action is seen as a crucial step to stabilize the market and ensure the competitiveness of India's steel industry, which has been grappling with increased imports in recent months.
The notification also clarifies the exclusion of certain steel products, including high-grade electrical steels, stainless steel, and other specialized coated and plated steels, from the scope of the safeguard duty. UNI BDN SSP
Tags: #HDK hails 12 pc safeguard duty on imported steel
More News

In a counter to CM's last week meet, TN Guv convenes VCs meet on Apr 25, 26

22 Apr 2025 | 7:53 PM

Chennai, Apr 22 (UNI) In what could be perceived as a counter to the one organised by
Chief Minister M K Stalin last week on the basis of a Supreme Court order, Tamil Nadu
Governor R N Ravi, asserting that he was still the Chancellor of the State-run varsities and
has convened a meeting of Vice-Chancellors of the Universities at Ooty on April 25 and 26.

see more..

India emerges as global hub for mid-market GCCs, Hyd among top talent destinations: NASSCOM

22 Apr 2025 | 7:36 PM

Hyderabad, Apr 22 (UNI) Mid-market Global Capability Centres (GCCs) are fast becoming the heartbeat of innovation and digital transformation within India’s booming tech industry.

see more..

AIADMK stages walk out from TN Assembly

22 Apr 2025 | 7:31 PM

Chennai, Apr 22 (UNI) The main Opposition AIADMK staged a walk out from the
Tamil Nadu Assembly after Speaker M.Appavu refused permission to its Leader
to speak on Tuesday after heated arguments with the Chair.

see more..

Telangana CM visits Hiroshima Assembly, strengthens Telangana-Japan ties

22 Apr 2025 | 7:30 PM

Hyderabad/Hiroshima (Japan), Apr 22 (UNI) In a significant diplomatic and developmental outreach, Telangana Chief Minister A Revanth Reddy led the "Telangana Rising" team on a visit to the Hiroshima Prefectural Assembly in Japan on Tuesday.

see more..

AP: Kakinada district SP hands over cash aid to deceased home guard's wife

22 Apr 2025 | 7:27 PM

Kakinada (Andhra Pradesh), Apr 22 (UNI) Kakinada District Superintendent of police Garikipati Bindu Madhav on Tuesday handed over cash aid of Rs.4,53,690 to the wife of home guard V Lovaraju who died on duty.

see more..