Govt, steel industry at loggerheads | business | Hindustan Times
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Govt, steel industry at loggerheads

business Updated: Jul 08, 2009 21:57 IST
HT Correspondent
HT Correspondent
Hindustan Times

The government on Wednesday said there was no need for curbing import of steel into the country and claims of dumping were unfound even as the industry reiterated that strong anti dumping laws are required to protect the domestic industry.

“The official figures do not indicate there has been any spike in import of steel in the country,” said P K Rastogi, steel secretary. “In the last three months, only in May did imports grow by 21 per cent but in April and June, it had declined.

Overall in the first three months, imports have declined by 5.3 per cent to 1.41 million tonnes.”

The industry, however, said that there are some countries that are importing steel into the country at discounted prices and a procedure is needed to curb that.

“Sharp fall in global demand for steel has led to large scale imports and in the first two months in 2009-10, imports have risen by 6 per cent,” said Sajjan Jindal, vice chairman and managing director, JSW Steel. “There is an urgent need for strong anti dumping laws to protect the domestic industry.”