India’s steel ministry is considering appealing

“They are asking us to amend the rules, but they are looking at only one country, the United States,” Teaotia told Reuters. Indian steelmakers say a change in anti-dumping rules would prevent the steel industry from dying out and stave off the dependence of sectors such as engineering goods on imports.India is among a number of countries and groups such as the European Union weighing up taking further measures against cheap exports from countries such as China and South Korea.India last week extended a safeguard import tax on some steel products until 2018 and imposed a floor price on overseas purchases in February.

But the trade ministry turned the proposal down and Trade Secretary Rita Teaotia said current rules were internationally accepted and followed, among others, by the European Union.6 billion tonnes of steel, of unfairly flooding local markets with cheap products and undercutting them as demand slackens at home.The domestic industry also has to prove that dumped imports are causing or likely to cause injury.New Delhi currently takes into account the margin of dumping and the margin of injury to the industry and restricts anti-dumping duty to the lower of the two. India’s steel secretary and Modi’s office were not immediately available for comment.”What we have been trying to explain to the user industry is that we are part of the same value chain,” said Seshagiri Rao, joint managing director at JSW Steel. Imports from Japan were up 39 per cent, while shipments from South Korea rose 54 percent between April and February.The government has issued notices to China, Japan and South Korea proposing a probe on “dumping” of some steel products, according to a source at the Directorate General of Anti-Dumping & Allied Duties. The dumping margin is the loss for an exporter selling to another country, while the injury margin is how much the Indian steel industry is undercut.The steel ministry was now considering approaching the federal planning body, Niti Aayog, or the Prime Minister’s office to press its case, according to the government source.Steel sector lobbyingIndian companies accuse South Korea, Japan, Russia and especially China, which produces nearly half of the world’s 1.

India’s steel ministry is considering appealing to Prime Minister Narendra Modi to back a proposal to toughen up anti-dumping rules to tackle a flood of cheap imports threatening its steel industry, a government source said.Because of the distress in India’s steel industry, the ministry had written a letter seeking to change anti-dumping rules, said the source, who declined to be named because he was not authorised to speak to media. This should effectively raise the duty and bring India in line with the United States and Canada, while meeting World Trade Organization (WTO) rules, the source said. (Representational Image) China oil Seal The domestic industry also has to prove that dumped imports are causing or likely to cause injury.Indian purchases of Chinese steel products rose 5 per cent in the 11 months to February, provisional government data showed, after more than trebling in the fiscal year ending March 2015.”If I am impacted today and you don’t support us – because it is unfair trade which is happening – the same thing will happen to you.”China’s commerce ministry did not respond to requests for comment on the impact any changes to anti-dumping rules might have on its exporters.According to the source, the letter had asked the trade ministry to alter anti-dumping rules unchanged for two decades to reflect only the dumping margin