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Steps needed to make value-added steel items competitive in international market : EEPC

  • Many value-added steel products shipped from the country saw a 15-35% decline while primary steel exports jumped.

New Delhi. : Value-added steel products exported from India are becoming uncompetitive in the international market due to rising prices of primary steel locally and hence both tariff and non-tariff measures could be considered to rein in steel prices, EEPC India has urged the government.

Accordingly, quantitative restrictions could be imposed on export of primary steel which is used as key raw material by local manufacturers. Export duty could also be raised to make steel available in the domestic market at reasonable and competitive prices.

“There has been a substantial jump in export of primary steel in recent months while many value-added steel products shipped from the country have seen a 15-35% decline. We have therefore suggested the government to take non-tariff and tariff measures as part of the raw material export policy,” said EEPC India Chairman Mr Mahesh Desai.

“Otherwise, many MSME exporters will be out of business and it will lead to unemployment of skilled people,” he added.

In a meeting with Union Commerce and Industry Minister Shri Piyush Goyal, and senior officers of the Department of Commerce and Directorate General of Foreign Trade (DGFT) , the EEPC also proposed that export activities should be declared as essential services and should be exempted from pandemic restrictions.