JSW Steel for 25% duty on steel imports

New Delhi: JSW Steel on Monday demanded a 25 per cent safeguard duty on imports of steel to protect domestic players. JSW Steel Joint MD and Group CFO Seshagiri Rao said this while speaking on the sidelines of an industry event.

On domestic steel sector being impacted due to the ongoing trade war between the US and China, he said it is a matter of concern. Lot of diversion of steel products is happening into India, affecting domestic industry. In August, import went up and a major part of it was from FTA countries. Most of the countries have taken protectionist measures and domestic steel industry has also been seeking safeguard duty, he said.

"A 25 per cent duty we are looking at on steel imports. It is very much essential..there are FTAs signed and majority of imports are coming from FTAs. Imposing safeguard duties is very much essential. All other countries have taken measures," Rao said.