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Overseas Stainless Steel exporters misusing ASEAN-India FTA

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MUMBAI (Scrap Register): Indian Stainless Steel Development Association (ISSDA) have raised concerns that exporters of Stainless Steel from ASEAN countries such as Indonesia, Malaysia, Singapore, Thailand, and Vietnam are trying to avail preferential tariff under the free-trade agreement (FTA).

These exporters colluding with some Indian importers to misuse the provisions of the ASEAN-India free-trade agreement.

ISSDA reported that the imports of Stainless Steel from Indonesia into India has grown to massive proportions from nearly 8,000 tonne in 2017-18 to 67,000 tonne in 2018-19.

To evade the duties, Indonesia imports hot rolled Stainless Steel coils from China and then converts the same consignment into cold rolled Stainless Steel coils. These cold rolled materials are then exported to India claiming preferential duty of zero per cent.

ISSDA has requested the government to impose anti-dumping duty/countervailing duty on imports of Stainless-Steel flat products from Indonesia, to counter Chinese imports, which are now being routed through the ASEAN-India FTA route.

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