Duty at the ad valorem rate of 44.2% Imposed on Steel imports by Thailand

Recently, Thailand imposed a definitive safeguard duty on imports of certain hot rolled steel flat products originating from India at the ad valorem rate of 44.2% for the period 15th September, 2013 to 26th February, 2014. This would be progressively reduced as per the provisions of Agreement on Safeguard under the World Trade Organization (WTO).

Safeguard duty so imposed will have an impact on India's exports of those specific products to Thailand.

Government is constantly reviewing policies and providing support from time to time to make the Indian products competitive in the international market. Apart from the neutralization of duties on imports, Government is providing incentives to various sectors, including engineering sector, by way of Focus Product Scheme, Focus Market Scheme, Market Linked Focus Product Scheme, Interest Subvention, Incremental Growth Scheme etc. To protect the domestic manufacturing sector, amongst others, Government is also monitoring the imports of steel products, so as to ensure that imports which can be avoided by strengthening the domestic manufacture are identified. Government is also invoking Trade Remedial actions by way of Anti-Dumping and Safeguard duties on imports following the rights and obligations under WTO.

 

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