Saturday, Nov 15, 2003
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By Our Staff Correspondent
The restrictions were previously imposed following widespread reports of inferior quality steel products, mostly long products, giving primary steel products a run for their money.
Talking to newspersons here today the Union Steel Minister, B. K. Tripathy, said the Government might also consider reduction in import duty on finished steel, in case it was urged. However, such a reduction in duty "might not be necessary.''
It may mentioned that the incidence of duty on imports of steel were already lower in India compared to many other major producers-consumer countries like China, the U.S., the U.K. and so on. Earlier addressing the inaugural session of the national metallurgists' day celebration and 57th annual technical meeting of Indian Institute of Metals, Mr. Tripathy said domestic production of steel would surpass 35 million tonnes this fiscal.
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