Indian government decides to adjust tariff structure on steel raw materials
The Indian government decided to adjust the tariff structure in the upcoming national budget. The current tariff of steel raw materials is higher than finished goods.
The current tariff of ferronickel and stainless steel scrap is higher than imported stainless steel products, especially the imported goods from the Free Trade Agreement (FTA) countries, which suppressed domestic production.
At present, the Indian government also considered abolishing the current tariff of 15% on ferronickel and stainless steel scrap in order to promote domestic production.
