India has been concerned about the potential for steel imports from FTA countries to be used for dumping, which is the practice of selling goods below cost in order to drive out competition. In order to address this concern, India has introduced a number of measures, including:
Requiring that steel imported from FTA countries be manufactured in the FTA country itself. This provision helps to ensure that steel imported from FTA countries is not simply being transshipped from a non-FTA country.
Imposing anti-dumping duties on steel imports from FTA countries that are found to be dumped. Anti-dumping duties are designed to offset the unfair price advantage that dumped goods have over domestically produced goods.
Monitoring steel imports from FTA countries closely. India’s government has set up a task force to monitor steel imports from FTA countries and to identify any potential cases of dumping.
These measures have helped to protect India’s steel industry from unfair competition. However, India’s government is continuing to monitor the situation closely and to take further action if necessary.