India conveys reason to WTO for MIP on steel: Birender Singh
India has conveyed to WTO the reason for imposition of minimum import price (MIP) on steel products and is ready to discuss the issue further if required, Steel Minister Chaudhary Birender Singh has said.
Japan has dragged India to the World Trade Organization against certain measures taken by New Delhi on imports of iron and steel products.
"The rationale for imposition of MIP had also been communicated to WTO through our Indian Ambassador. So, if there is any further clarification required, Ministry is ready to discuss the same," Singh said.
India has moved from MIP to the regime of anti-dumping and safeguards, he said, adding that the MIP mechanism was an exigency measure that was taken to curb the unabated surge in imports at predatory pricing.