In an effort to protect the domestic steel industry from a rise in cheap imports, the Indian government has imposed a 12% safeguard duty on certain alloy and non-alloy steel flat products. This move, supported by the Union Minister, is designed to ease the burden on local manufacturers, especially small and medium enterprises (SMEs), who are grappling with market disruptions caused by higher levels of foreign steel imports.
Indian government imposes 12% safeguard duty on steel imports to protect domestic industry and support SMEs.
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