BHUBANESWAR: In a bid to guard metal manufacturing items in Odisha, the State authorities on Monday urged the Centre to proceed imposing anti-dumping duties (ADD) and countervailing duties (CVD) on imported metal.
In a letter to Union Finance Minister Nirmala Sitharaman, Minister of State for Industries and MSME Dibya Shankar Mishra mentioned revoking of ADD and CVD on stainless-steel merchandise would give China a free hand for dumping low cost metallic within the nation.
Claiming that Odisha is one the highest metal manufacturing states within the nation, Mishra mentioned dumping by China and Indonesia would make issues worse for home producers who’ve invested closely within the State.
Noting that over Rs 1.5 lakh crore has been invested in metal sector and one other Rs 8,000 crore funding is in pipeline for downstream industries, Mishra mentioned the Centre’s transfer will solely give a free hand to China to dump metal within the nation through Indonesia. It will badly hit the State authorities’s plan to develop metallic and metal clusters.
“The State authorities has drawn up plans to woo downstream industries, primarily metallic and metal. A 50 per cent worth addition has been focused within the metallic sector by 2030. For this to occur, the State will take all steps to guard the pursuits of the Metal and downstream industries,” Mishra mentioned.
Admitting that metal trade in India, one of many quickest rising metal producing nations, is passing by means of stress for a while on account of rising imports, the federal government assured Rajya Sabha that it’ll take all steps to advertise and safeguard the sector.
He mentioned main stainless-steel producers have opposed the suspension of anti-dumping duties citing dangers of low cost Chinese language imports flooding native markets.
At a time when nations just like the USA have imposed 25 per cent obligation on imports to guard their industries, it will not be sensible for India to take away ADD and CVD from imported metal, Mishra added.