New Delhi, Aug 10 (KNN) Engineering Export Promotion Council of India (EEPC India) has asked the government that how will Make in India become possible if domestic steel prices are 30 per cent more than the imported ones.

The comments came after India, on Tuesday, slapped anti-dumping duty (ADD) on import of hot-rolled (HR) steel products for six months from six nations including China, Japan and South Korea.

TS Bhasin, Chairman of EEPC India, said that a combination of anti-dumping measure together with safeguard duty on a large number of steel products has enhanced the protection beyond the Minimum Import Price (MIP).  Further 66 products are still under MIP.

He emphasised that all these measures will kill small engineering exporters of India.

“It would have a disastrous impact on our competitiveness,” said Bhasin adding that the move hamper Government’s vision of Make in India.  

The Vice Chairman of EEPC India, Pankaj Chadha, said that the interest of the downstream steel industry has not been taken into account.

Chadha gave example and said “United States had to buy the expensive domestic material when they did not dump the imported material into the market.”

He asked that how the Make in India would become possible if domestic material is 30 per cent more expensive than the imported material.

“After all we have to compete in the international market,” he said.

The move come few days after the Government extended the minimum import price (MIP) norms on 66 select steel products for another few months. However, it removed safeguard duties from 37 others.

The Directorate General of Anti-Dumping (DGAD) recommended imposing ADD till February 7, 2017.

Chadha emphasised that if raw material is 30 per cent more expensive then the competitiveness in finish products would stop.  Government has taken the decision to support the steel mills then users will have to face the music. (KNN Bureau)