New Delhi — Imports of steel into India are not alarming enough to justify a minimum import price (MIP) as proposed by a section of the industry, Steel Minister Chaudhary Birender Singh said on Friday on the sidelines of 25th Prime Minister’s Trophy Awards, 2016-17.
“We are not to be jittery. Whenever this kind of situation develops, then we will see,” Singh said when asked if the government was considering imposing an MIP to protect local steel makers.
Singh was speaking to reporters on the sidelines of an award function of Steel Ministry.
“I don’t think there is an urgent need for that (MIP),” he said, adding a couple of months ago import figures showed a fall.
Early last month, the steel ministry held a meeting to consider a $615/ton MIP on hot rolled coils among others, according to SteelMint sources.
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