India Levies 5-Year Anti-Dumping Duty on Steel Imports from Vietnam

India has put an anti-dumping duty of $121.55 per tonne on imports of hot-rolled flat steel products from Vietnam. The duty will be in place for 5 years, following a recommendation from the Directorate General of Trade Remedies (DGTR). The decision was announced in a notification issued by the Finance Ministry.

Reason for the Duty

The DGTR’s investigation found that certain steel products from Vietnam were being sold in India at prices lower than their normal value. This was found to have caused injury to domestic steel producers. The authority also noted that without corrective measures, the injury to the Indian industry could worsen.

Scope and Product Details

The duty applies to hot-rolled flat products of alloy or non-alloy steel, which are not clad, plated, or coated. These products have a thickness of up to 25 millimetres and a width of up to 2,100 millimetres. They are listed under tariff headings 7208, 7211, 7225, and 7226. Stainless steel hot-rolled flat products are excluded from this measure.

Exemptions and Duration

According to the notification, Hoa Phat Dung Quat Steel JSC from Vietnam has been exempted from the duty. All other Vietnamese producers and exporters will be subject to the levy. The duty will be payable in Indian currency, calculated at the exchange rate applicable on the date of the bill of entry. It will remain in effect for five years unless withdrawn or amended earlier.

Trade Background

India and Vietnam are members of the World Trade Organisation (WTO) and have trade relations under the ASEAN Free Trade Agreement. In 2023-24, trade between the 2 countries reached $14.81 billion, up slightly from $14.7 billion in 2022–23. India’s exports stood at $5.47 billion, while imports were $9.34 billion, leaving a trade deficit of $3.87 billion.

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Conclusion

The duty will be effective for 5 years to regulate import prices and address the DGTR’s findings on underpriced Vietnamese steel products. The move from the government is aimed at protecting domestic manufacturers from cheap imports. 

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