ISSDA views government's decision to impose export tariffs on steel products as knee-jerk action
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Update time : 2022-06-22 21:57:15
The Indian Stainless Steel Development Association (ISSDA) viewed the Indian government's decision to impose a 15% export tariff on steel products as a knee-jerk action, which has impacted the domestic steel industry.
The government aimed to cool down steel prices via the policy, but the prices had started dropping anyway.
ISSDA President KK Pahuja said that the government should have studied the actual stainless steel market before making such a decision to impose export tariffs on stainless steel products, as the impact on this lower-margin industry is much more severe than on other steel industries.
However, for the tariff reduction on certain imported raw materials, KK Pahuja expressed his welcome.
