Press Trust of India reported that Indian steel majors may push for a higher import tariff on steel at a meeting convened by the government today.

As per report, seeking protection against cheap dumping of steel items from countries like China and Ukraine, the domestic producers want the import duty to be increased to 15% from the present 5%.
Besides seeking an increase in import tariff, the steel producers also want the government to continue curbing overseas shipments of the commodity by keeping it in the list of restricted items for imports.

Indian steel ministry has called a meeting of the major domestic producers to discuss threadbare the repercussions of a higher import duty and the impact of fiscal measures taken by the government for the sector.

The meeting would review demand-supply scenario in the domestic sector and the steps needed to protect the industry against falling demand and crashing prices.