“This (fiscal) year, I think we are looking
at around 8 million tonnes of imports into India, which is about 10 percent of
our demand,” Sajjan Jindal, chairman of
JSW Steel Ltd, India's third-largest steelmaker,told Reuters.
In the financial year ending March 31-2012, India imported 6.8 mn tonnes of finished steel, marginally higher than 6.7 mn tonnes in
the previous year.China is the top exporter to India followed by South
Korea and Japan.
Steel shipments from China attract 7.5 percent duty
whereas for Japan and Korea it is only about 4 percent.
“There is a more than 300% increase in imports (from
Japan and South Korea). So, the government has to sit back and take a look at
it,” said Jindal from JSW Steel.
Reuters
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