Govt look­ing at tar­iff, non-tar­iff mea­sures to re­duce steel im­ports

The Hindu Business Line - - NEWS -

The gov­ern­ment is look­ing at both tar­iff and non-tar­iff mea­sures to re­duce “un­nec­es­sary’’ im­ports of steel prod­ucts and boost ex­ports in or­der to ad­dress the prob­lem of un­der-utilised ca­pac­ity in the steel sec­tor.

Com­merce & In­dus­try Min­is­ter Piyush Goyal and Steel Min­is­ter Dhar­men­dra Prad­han dis­cussed the chal­lenges be­ing faced by the steel sec­tor and the im­port-ex­port trends with steel pro­duc­ers on Tues­day, ac­cord­ing to an of­fi­cial re­lease.

Both Ministers as­sured the steel in­dus­try that the two Min­istries will make all ef­forts to en­sure that en­gi­neer­ing goods ex­ports dou­ble in the next five years and reach $200 bil­lion by 2030.

Gen­er­ate jobs

This will not only boost In­dia’s ex­ports but will also gen­er­ate jobs in the manufactur­ing sec­tor es­pe­cially the MSME sec­tor. Although In­dia is the sec­ond largest man­u­fac­turer of steel, it is also a net im­porter of the item.

“Rep­re­sen­ta­tives of the steel in­dus­try and en­gi­neer­ing ex­port coun­cils dis­cussed in de­tail with Com­merce and Steel Ministers the pro­tec­tion­ist mea­sures be­ing im­posed by other coun­tries and the un­der-utilised ca­pac­ity in steel manufactur­ing in In­dia,” the re­lease added.

Goyal and Prad­han dis­cussed at length the mea­sures that Com­merce and In­dus­try and Steel Min­istries may take, both tar­iff and non-tar­iff, to re­duce un­nec­es­sary im­ports and boost ex­ports.

MSME sec­tor

The MSME sec­tor steel man­u­fac­tur­ers urged steel pro­duc­ers to sup­ply raw ma­te­rial at con­ces­sional prices so that the MSME sec­tor can com­pete in in­ter­na­tional mar­kets, the re­lease added.

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