Take the pledge to vote

For a better tommorow#AajSawaroApnaKal
  • I agree to receive emails from News18

  • I promise to vote in this year's elections no matter what the odds are.
  • Please check above checkbox.

    SUBMIT

Thank you for
taking the pledge

Vote responsibly as each vote counts
and makes a diffrence

Disclaimer:

Issued in public interest by HDFC Life. HDFC Life Insurance Company Limited (Formerly HDFC Standard Life Insurance Company Limited) (“HDFC Life”). CIN: L65110MH2000PLC128245, IRDAI Reg. No. 101 . The name/letters "HDFC" in the name/logo of the company belongs to Housing Development Finance Corporation Limited ("HDFC Limited") and is used by HDFC Life under an agreement entered into with HDFC Limited. ARN EU/04/19/13618
LIVE TV DownloadNews18 App
News18 English
News18 » India
1-min read

Anti-dumping Duty on Steel Products Good Move, Says Supreme Court

The Central government's retroactive anti-dumping duties on steel products of foreign firms got a shot in the arm on Monday with the Supreme Court observing that such a levy was in national interest.

Utkarsh Anand | CNN-News18

Updated:July 3, 2017, 3:17 PM IST
facebookTwitterskypewhatsapp
Anti-dumping Duty on Steel Products Good Move, Says Supreme Court
File Photo of the Supreme Court of India.
Loading...

New Delhi: The Central government's retroactive anti-dumping duties on steel products of foreign firms got a shot in the arm on Monday with the Supreme Court observing that such a levy was in national interest.

Favoring the protectionist measure, a bench led by Justice A K Sikri said that the government has done the right thing by bringing in the anti-dumping duty on some steel products.

"The entire steel industry would have been killed otherwise...in the last three-four years, not just India but the whole world has been shaken by China dumping the surplus across the globe," observed Justice Sikri.

The judge added that countries have been compelled to devise measures to protect their domestic industries. "We think the government is doing the right thing by levying duties if you want to dump your steel products. What's wrong with this? You must pay up. This is important for protecting domestic industries," said Justice Sikri.

The observations by the judge came as it heard a batch of appeals in connection with anti-dumping duty on hot rolled (HR) and cold rolled (CR) steel.

The move aimed at providing protection to domestic industry in the face of severe competition from cheaper imports.

The anti-dumping duty (ADD) cover countries like Japan, China, Korea Brazil, Indonesia and Russia and Ukraine. Anti-dumping duty is WTO compliant and is expected to give the industry a cushion against imports for the next five years.

The bench allowed appeals by Commissioner of Customs, which had sought to impose anti-dumping duty on M/S Mascot International.

Get the best of News18 delivered to your inbox - subscribe to News18 Daybreak. Follow News18.com on Twitter, Instagram, Facebook, Telegram, TikTok and on YouTube, and stay in the know with what's happening in the world around you – in real time.

| Edited by: Swati Sharma
Read full article
Loading...
Next Story
Next Story

Also Watch

facebookTwitterskypewhatsapp

Live TV

Countdown To Elections Results
To Assembly Elections 2018 Results