NMCC asked to examine impact of steel imports from China
The Ministry of Finance, which has already started a probe into it apart from NMCC, has also asked the Standard Board of Safeguards to hold a meeting on November 15.
"The Board requested NMCC to carry out a study on sales invoices and examine their impact on the competitiveness of the user industry of the product under consideration," according to an official document.
The Board has also sought clarifications from DG (Safeguards) for quantum of duty proposed to be imposed, total production of the product under consideration and whether scrap can be used for production of hot-rolled steel.
Jindal Stainless, seeking protection for domestic producers, had recently complained to the Directorate General of Safeguards (DGS) that increased imports of 'Hot Rolled Flat Products of Stainless Steel of 300 series' from China is causing market disruption in India.
DGS, under the Revenue Department, Ministry of Finance, has powers to investigate existence of market disruption to domestic industry due to increased imports and recommend safeguard duty.
The industry has requested for immediate imposition of safeguard duty -- a levy to protect a specific industry from an unexpected build-up of imports -- on the shipments of the raw material from the neighbouring country for four years.
After examining the complaint, the DGS found "prima facie" increased imports of hot rolled flat products of stainless steel have caused and are threatening to cause market
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