Government to curb sub-standard steel imports
The government is planning to take urgent measures to curb the import of defective/sub-standard steel in the interest of domestic manufacturers. The issue was discussed at a high level meeting of the steel and commerce ministries. A government official affirmed, “There is a need to contain imports of defective and sub standard steel. It comes in India because it is cheap in price.” The government has also decided to provide steel at affordable prices to engineering exporters, who have complained that domestic steel makers are charging higher margins. Benefits of the advance authorisation scheme will be passed on to steel makers.