ANNOUNCEMENT 12 Aug 2015In August 2015, the government of India announced a change in import duties.
NUMBER OF INTERVENTIONS
On 12 August 2015, the Indian Ministry of Finance through Notification No. 45/2015 increased the import tariffs on several iron and steel bar products from 10% to 12.5% and on iron and steel flat-roll products from 7.5% to 10%. The measure has been widely reported as a move to protect domestic suppliers on account of the devaluation of its currency by China and resultant dumping of iron and steel products in India.
The tariff on these products was last increased in June 2015 (see related measure).