India Levies Up to 12% Safeguard Duty on Select Steel Imports From China, Vietnam

India has imposed a safeguard duty on certain steel imports for a period of three years, signalling a tougher stance against what it has described as a surge in low-priced shipments that threaten domestic manufacturers, particularly from China.

According to a notification issued by the finance ministry and published in the official government gazette on Tuesday, the import levy will range between 11 per cent and 12 per cent over the three-year period.

The duty will be set at 12 per cent in the first year, ease to 11.5 per cent in the second year, and further reduce to 11 per cent in the third year.