India has informed the World Trade Organisation that it has initiated an investigation into imposing safeguard duty on import of certain steel products which are causing injury to the domestic manufacturers. 

The Commerce and Industry Ministry had sent the intimation to the WTO Committee on Safeguards, the world trade rule body said in a notification. “On September 15, 2015, India notified the WTO’s Committee on Safeguards that it initiated on September 7, 2015 a safeguard investigation on hot-rolled flat products of non-alloy and other alloy steel,” the WTO said. 

Any WTO member country can now file an objection, if any, to India’s intention to impose safeguard duty on the steel products within a month of September 7, the date on which the notice was issued. A safeguard investigation seeks to determine whether increased imports of a product are causing, or is threatening to cause, serious injury to a domestic industry. 

During a safeguard investigation, importers, exporters and other interested parties may present evidence and views and respond to the presentations of other parties. A WTO member may take a safeguard action (that is restricting imports of a product temporarily) only if the increased imports of the product are found to be causing, or threatening to cause, serious injury. 

New Delhi

India has informed the World Trade Organisation that it has initiated an investigation into imposing safeguard duty on import of certain steel products which are causing injury to the domestic manufacturers. 

The Commerce and Industry Ministry had sent the intimation to the WTO Committee on Safeguards, the world trade rule body said in a notification. “On September 15, 2015, India notified the WTO’s Committee on Safeguards that it initiated on September 7, 2015 a safeguard investigation on hot-rolled flat products of non-alloy and other alloy steel,” the WTO said. 

Any WTO member country can now file an objection, if any, to India’s intention to impose safeguard duty on the steel products within a month of September 7, the date on which the notice was issued. A safeguard investigation seeks to determine whether increased imports of a product are causing, or is threatening to cause, serious injury to a domestic industry. 

During a safeguard investigation, importers, exporters and other interested parties may present evidence and views and respond to the presentations of other parties. A WTO member may take a safeguard action (that is restricting imports of a product temporarily) only if the increased imports of the product are found to be causing, or threatening to cause, serious injury. 

Sep 20, 2015
Source: medhajnews.in