India considers revising steel export duties

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India’s steel minister: The government is considering revising the steel export tariff policy

According to foreign media sources, recently, the Indian steel minister announced that the government is considering revising the steel export tariff policy. It is reported that after the Indian government announced a 15% tariff on steel exports in May, India’s steel exports have dropped significantly. The country’s steel association and major steel mills have repeatedly asked the government to revise the tariff policy.

Seshagiri Rao, joint managing director of JSW Steel, said that in the first four months of the 2022-2023 fiscal year (April 1, 2022-March 31, 2023), the company’s steel exports were year-on-year. down 50%. “This tariff policy is affecting the overall production and operation of the Indian steel industry,” he said.

A senior executive of an Indian steel company said that the Indian government may revise this tariff policy in stages, and may first consider lowering export tariffs on flat products and keeping export tariffs on construction steel unchanged. (Wang Xiaoyu)

“China Metallurgical News” (August 19, 2022, second edition of 02 edition)

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