India Imposes Three-Year Safeguard Duty on Select Steel Products

India has imposed a safeguard duty on certain steel products for a period of three years to shield domestic manufacturers from a sharp surge in low-priced imports.

According to a notification issued by the finance ministry, the safeguard duty will be levied in a phased manner. In the first year, a duty of 12 per cent will be applicable from April 21, 2025, to April 20, 2026.

The duty rate will be marginally reduced to 11.5 per cent in the second year, covering the period from April 21, 2026, to April 20, 2027, and further lowered to 11 per cent in the third year, from April 21, 2027, to April 20, 2028.

The move aims to protect the domestic steel industry from injury caused by a significant increase in imports, particularly at lower prices, and to provide local producers time to adjust to competitive market conditions.