GTRI Calls for Steel Sector Overhaul: Analyzing India's Import Measures

The Global Trade Research Initiative (GTRI) urges a thorough evaluation of India's steel import measures before imposing new safeguard duties, citing current inefficiencies. The report highlights the importance of understanding existing impacts on the economy, and suggests simplifying import processes to support MSME exporters and industries reliant on steel.

The Global Trade Research Initiative (GTRI) has urged a comprehensive review of India's steel industry to assess current import measures before implementing a proposed safeguard duty.

GTRI's report criticizes the commerce ministry's ongoing investigation into increased steel product imports, pointing to technical weaknesses and an inefficient system of Quality Control Orders and No Objection Certificates.

The report advocates for a clearer approach to import processes, emphasizing potential international collaboration for quality control and cautioning against using global safeguards without thorough investigation.

(With inputs from agencies.)