Steel Import Duty Could Cost India Jobs, Says Export Council
09/10/2015 - India’s Engineering Export Promotion Council is opposing a recommendation that the country put a 20-percent safeguard duty on certain steel imports, arguing that it would come at the expense of small and mid-sized exporters.
According to The Economic Times newspaper, the council said the duty could increase the price of Indian-made steel products by as much as 15 percent, making them uncompetitive globally on account of imported Chinese steel.
"If the safeguards duty is imposed on the basic raw material, the engineering exports which are already suffering would get a further hit at least to the extent of 20 per cent on the employment," said council chairman Anupam Shah.
He said the duty should be rejected.
"If this is not done, hundreds of thousands of jobs in the (small and mid-sized engineering exporters) would be sacrificed for the sake of helping the large and powerful steel manufacturers,” he said.
"If the safeguards duty is imposed on the basic raw material, the engineering exports which are already suffering would get a further hit at least to the extent of 20 per cent on the employment," said council chairman Anupam Shah.
He said the duty should be rejected.
"If this is not done, hundreds of thousands of jobs in the (small and mid-sized engineering exporters) would be sacrificed for the sake of helping the large and powerful steel manufacturers,” he said.
