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Majority of steel imports under FTAs, making any duty hike ineffective, says steel secy

By Economic Times - 2 days ago
India's steel industry is grappling with a surge in imports, primarily from countries with free trade agreements (FTAs). These duty-free imports constitute a significant portion of total steel imports, rendering tariff adjustments ineffective in curbing the influx. Despite increased demand, the surge in imports has led to a supply glut, impacting domestic steel producers.

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