The Indian Government has said that it is unlikely to further extend the minimum import price(MIP) on certain steel products beyond October 4 as these items could be covered under anti-dumping duty.
As per reports, by the next month, the commerce ministry will complete the anti-dumping investigations on the 66 steel products on which MIP has been imposed and extended till October 4.
Commenting on the issue, a Government Official told the media, "Anti-dumping duties would cover those 66 items. After imposition of the anti-dumping duty, MIP is likely to be removed as MIP is a temporary measure."
As per reports, the commerce ministry believes that WTO-compliant measures like anti-dumping duty should be used to overcome the issue of cheap imports of commodities like steel. Last month, the government extended the MIP on only 66 steel products for two months as against 173 items earlier.
As per reports, the 66 products include semi-finished ones of iron or non-alloyed steel, flat-rolled products of different widths, bars and rods.
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