Revocation of ADD & CVD on Stainless Steel Raw Material will revive domestic downstream industries
AHMEDABAD, India, Feb 23, 2021 /PRNewswire/ All India Stainless Steel Pipes & Tubes Manufacturers Association, in a statement issued today expressed optimism towards the much-needed revival of the domestic stainless steel downstream industries, thanks to the proposed revocation of anti-dumping duty (ADD) and countervailing duty (CVD) on the import of stainless steel raw material.
Debunked misinformation regarding stainless steel imports in India from countries like Indonesia, the association said that the domestic industries cannot alone rely on the monopolies for stainless steel requirements. Since the demand of stainless steel raw material outstrips the supply in India, raw material imports is necessary. The domestic downstream industries are relying for timely delivery at internationally benchmarked price.