Govt levies charge on steel imports from China, weighs customs duty on solar gear
Photo Credit: Reuters

India has imposed an anti-dumping duty on flat rolled steel products that are plated or coated with alloy of aluminium and zinc originating in, or from China, Vietnam and South Korea, according to a government order issued on Tuesday.

The duty will be in the range of $13.07-$173.10 per tonne for 5 years, according to the statement.

In the last few days, India has taken steps to protect its domestic industry and push local manufacturing as Prime Minister Narendra Modi wants to make the nation self-reliant to bolster its sagging economy and create jobs.

The move to levy charges on imports from China is also seen as retaliation by New Delhi after 20 soldiers died in a face-off with Beijing at the Himalayan border. Indian and Chinese military officials on Tuesday agreed to disengage on the disputed border.

Solar equipment

India is considering imposing a customs duty on imports of solar modules, cells and inverters from August, the power ministry said on Tuesday, as part of a push to curb foreign purchases.

India does not now levy a customs tax on imports of solar cells and modules, most of which come from China to meet Prime Minister Modi's target of installing 100 gigawatt of solar energy by 2022. Other existing taxes expire in July.

Three-state run firms would offer finance at low interest rates to encourage the local production of solar equipment, the power ministry said in a statement.

Leave Your Comment(s)