India imposes three-year steel tariff to support local industry


An import levy of 11% to 12% was proposed for some products, the Finance Ministry said. — Bloomberg

MUMBAI: India extended a tariff on steel imports for three years, marking the nation’s latest effort to shield its domestic industry from a glut.

An import levy of 11% to 12% was proposed for some products, the Finance Ministry said in an order on Tuesday. The measures were first introduced in April for 200 days.

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