"We will meet Finance Minister within a week and inform him about the tough conditions being faced by steel industry due to cheap imports. Then it is on the Finance Minister to take a decision on this issue," Geete told PTI.
Earlier this month, the government increased the import duty on certain long and flat steel products by 2.5 per cent.
The products include non-alloy flat products, alloy sheet flat, semis, non-alloy and large alloy flat, among others.
The move is expected to help domestic steel producers who are battling cheap imports from countries such as China and Korea.
During June itself, India slapped anti-dumping duty of up to USD 316 per tonne on imports of certain steel products from three countries, including China, to protect domestic producers from below-cost inbound shipments.