Odisha urges Centre to reimpose anti-dumping duty to protect domestic steel sector

Odisha urges Centre to reimpose anti-dumping duty to protect domestic steel sector

Bhubaneswar: Odisha on Monday requested the Union Government to re-impose anti-dumping and countervailing duties on the import of stainless steel to protect the interest of domestic manufacturers. It would also check the export of stainless steel from countries like China and Indonesia, State Industries Minister Dibya Shankar Mishra said in a letter to Union Finance Minister Nirmala Sitharaman. He said the revocation of anti-dumping and countervailing duties will open the floodgates for imports of stainless steel from China and Indonesia and would hit the domestic entrepreneurs.
The Minister said Odisha is the largest producer of stainless steel in the country, adding that Rs 15,000 crore has been invested in the stainless steel producing sector and another Rs 8,000 crore has been invested in downstream industries under the MSME in the State. It helps not only in the development of Odisha but also in the development of the eastern region of the country.
Mishra said there are ample opportunities for industries linked with stainless steel in the State. The State Government is giving priority to it and initiating steps for the value addition of goods in the State. He said the State has also planned to set up Stainless Steel Park and Metal Park in the future.
Mishra said there is a need to provide a conducive atmosphere to the entrepreneurs of the State and to impose restrictions on exports from countries like China and Indonesia. He said the US has imposed 25 per cent duty on import to protect its domestic industrial units and requested the Union Finance Minister to reconsider its decision and reimpose anti-dumping duty and countervailing duty on stainless steel.

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