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The government has taken the following measures to curb the surging steel imports and make domestic production sustainable:
Any further safeguards will impact the downstream industries as steel is used as an input in different industries like basic metal and non-metal products, machineries, transport, construction and consumer goods. It is estimated that for a 10 per cent increase in steel prices due to a hike in anti-dumping or import duties, the cost of production of basic metal and non-metal products will increase by 5.4 per cent, construction by 1.7 per cent, machineries by 1.3 per cent, transport by 0.7 per cent and the consumer goods sector by 0.4 per cent.
By: Vishal ProfileResourcesReport error
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