India examines FTA conditions to counter steel dumping

New Delhi, July 24 (KNN) The central government is ensuring that free trade agreements (FTAs) have inclusion of ‘melt and pour’ conditions to protect domestic steel industry, Nagendra Nath Sinha, Steel Secretary told ET. 

This provision helps curtail dumping of steel from non-FTA countries to use FTA countries as transit points.

It ensures that any steel which benefits from tariff concessions under FTAs is manufactured only in the countries that have an arrangement with India, reported ET.

“We are negotiating for 'melt and pour' as the product specific rules of origin. This provision ensures that FTA benefits are available only to genuine manufacturers in other countries rather than those who re-route their products to India,” Sinha told ET.

FTA negotiations are presently underway with the United Kingdom, the European Union and Canada. 

The 'melt and pour' provision is also part of the India-Australia Economic Cooperation and Trade Agreement, which came into force in December 2022.  (KNN Bureau)