A decision regarding imposition of safeguard duty on import of steel will not be delayed if the Directorate General of Safeguards recommends restrictive duty, Revenue Secretary Shaktikanta Das has said.
The Indian steel industry has been hit hard due to cheap import of the metal from China and the devaluation of the Chinese currency has further aggravated the situation. While the government increased import duty on steel by 2.5 per cent earlier in August, some industry players had approached the Directorate General of Safeguards for imposition of safeguard duty.
´Already in steel, as far as I know, some applications have been filed and those are under consideration of DG Safeguards. He has to examine the applications. They will be examined very expeditiously,´ Das said.