STAINLESS PRODUCERS FROM INDIA ASK FOR AN INCREASE IN IMPORT DUTY

A leading body of stainless steel producers in India have urged the government to raise basic customs duty import duty on stainless steel flat products to 15% in the forthcoming budget from the present 7.5% to curb growing imports. 

The Indian Stainless Steel Development Association (ISSDA), which has top manufacturers of stainless steel flat and long products as its members, has said considering the fact that imports occupy 45% -50% market share, there is a crying need for increasing the import duty on stainless steel flat products.