PTI reported that Indian Stainless Steel Development Association has urged the Indian government to restore the countervailing duty on stainless steel products from China and Indonesia in the upcoming Union Budget. ISSDA President Mr KK Pahuja said "The current market buoyancy is hiding the larger issue of import dependency, which goes against the Aatmanirbhar vision of Prime Minister and has long term implications. If prescribed trade remedies, imposed after laid down quasi-judicial procedures, are suddenly withdrawn, it creates huge policy uncertainty and adversely affects business sentiment. We hope government will take note of import surge and restore both the CVDs in the forthcoming Budget.”ISSDA said “The decision to suspend the CVD in Union Budget 2021-22 has led to a surge in imports from Indonesia and China. The imports are being largely driven by Chinese companies operating from Indonesia, which got a boost after the suspension of CVD in February 2021.”
PTI reported that Indian Stainless Steel Development Association has urged the Indian government to restore the countervailing duty on stainless steel products from China and Indonesia in the upcoming Union Budget. ISSDA President Mr KK Pahuja said "The current market buoyancy is hiding the larger issue of import dependency, which goes against the Aatmanirbhar vision of Prime Minister and has long term implications. If prescribed trade remedies, imposed after laid down quasi-judicial procedures, are suddenly withdrawn, it creates huge policy uncertainty and adversely affects business sentiment. We hope government will take note of import surge and restore both the CVDs in the forthcoming Budget.”ISSDA said “The decision to suspend the CVD in Union Budget 2021-22 has led to a surge in imports from Indonesia and China. The imports are being largely driven by Chinese companies operating from Indonesia, which got a boost after the suspension of CVD in February 2021.”
