Indore : Union Minister Narendra Singh Tomar said additional steps will be taken to protect domestic steel industry, which is facing a bad patch, in wake of cheap Chinese imported steel.
“China was trying to dump its cheap steel in India and as a result of it, the domestic steel industry was in distress. To protest domestic industry, we enhanced import duty and imposed safeguard duty. But these steps were not enough and we will be taking additional steps in this regard”, Tomar Minister for Steel and Mines, said at the Industrial Engineering Expo 2016 .
According to Tomar, his ministry along with the Finance and Commerce ministries is engaged in a dialogue to work out the steps that need to be taken for protecting domestic steel industry in the near future. “China is offering steel at half price compared to domestic industry in India. The way China is working, it appears (that) an economic war was on,” he said. The Minister further said that state run steel production centres are been expanded and modernised and four new steel plants were being set up in Jharkhand, Odisha, Chhattisgarh and Karnataka. Tomar said the Centre is also planning to set up 6 to 7 plastic parks across the country.
