The Directorate General of Trade Remedies (DGTR) has initiated an anti-dumping investigation into the dumping of hot rolled flat products of alloy or non-alloy steel imported from Vietnam on an application by Indian Steel Association (ISA), a representative body of the local steel makers.
The application has been filed by ISA on behalf of domestic producers, namely, JSW Steel and ArcelorMittal Nippon Steel India, a notification announcing the start of the probe said.
The applicants have alleged that the product is being imported at dumped prices which is causing material injury to the domestic industry and there is a further threat of injury to the domestic industry due to dumped imports.
In the notification the DGTR said there is prima facie evidence concerning the dumping of the product under consideration originating in or exported from the subject country and the consequential injury and threat of injury to the domestic industry.
Hot rolled flat steel is used in automotive, oil and gas line pipes/exploration, cold rolled steel products, pipe manufacturing, general engineering & fabrication, construction, capital goods, process equipment for cement, fertiliser, refineries and earth-moving.
“The authority hereby initiates an anti-dumping investigation,” the notification said adding the applicants have requested for retrospective imposition of the duty as there is clear history of dumping of the item in the country. For the investigation period, the directorate will consider the import data from April 2020 to March 2023.
If it is established that the dumping has caused material injury to domestic players, the DGTR would recommend the imposition of anti-dumping duty on imports. The finance ministry takes the final decision to impose duties. In 2023-24 total steel imports from Vietnam were $ 722 million, up 101% on year.
The bilateral trade between the two countries was $ 14.81 billion in 2023-24 as against $14.7 billion in 2022-23. While India’s exports stood at $ 5.47 billion, imports were $9.34 billion in the last fiscal, leaving a trade deficit of $ 3.87 billion in favour of Vietnam.