Steel producers oppose govt's easing of import rules

Domestic producers have strongly protested at the government’s decision to liberalise import of steel and steel products for certain critical applications without meeting local quality specifications.The Union commerce ministry through a notification on Wednesday allowed such import for mega projects, with an investment of over Rs 1,000 crore. These include mass consumption sectors such as infrastructure, petroleum, nuclear reactors and defence, exempted from applicability of local quality standards. The exporters will, however, have to obtain quality certificates from their country of origin.Domestic producers say this comes at a time when demand in the country has weakened due to depleting investments in infrastructure and manufacturing. There is also a shortage of iron ore, the key raw material. Imports have been growing year-on-year due to various factors.

Source : Business Standard