ANNOUNCED AS TEMPORARYNo
On 5 February 2016, the Indian Ministry of Commerce & Industry imposed a Minimum Import Price (MIP) ranging from $341 to $752 per tonne on 173 products of iron and steel. The MIP is not applicable on iron products that are imported under the Advance Authorisation Scheme (imports to produce export products) or certain high grade products that are imported for use in manufacturing pipelines in the petroleum and natural gas industries. The measure is valid for 6 months.
On 4 August 2016, the MIP was extended on 66 products out of the 173 for another 2 months i.e. until 4 October 2016 through Notification No. 20/2015-20. On 4 October 2016, the MIP was further extended till 4 December 2016 through Notification No. 30/2015-2020.
On 3 December 2016, the MIP was extended on 19 products until 4 February 2017 through Notification No. 31/2015-2020.
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