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India Looking At Measures To Reduce Steel Imports & Increase Engineering Goods Exports

Steel News - Published on Wed, 12 Jun 2019

Image Source: Financial Express
Business Line reported that the Indian government is looking at both tariff and non tariff measures to reduce imports of steel products and boost engineering goods exports in order to address the problem of under utilized capacity in the steel sector. detail with Commerce and Steel Ministers the protectionist measures being imposed by other countries and the under utilized capacity in steel manufacturing in India.

Commerce & Industry Minister M Piyush Goyal and Steel Minister Mr Dharmendra Pradhan discussed the challenges being faced by the steel sector and the import-export trends with steel producers. Mr Goyal and M Pradhan discussed at length the measures that Commerce and Industry and Steel Ministries may take, both tariff and non-tariff, to reduce unnecessary imports and boost exports. Both Ministers assured the steel industry that the two Ministries will make all efforts to ensure that engineering goods exports double in the next five years and reach USD 200 billion by 2030.

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Posted By : Ratan Singh on Wed, 12 Jun 2019
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