India to put 12% temporary tariff on steel imports

India to Impose 12% Temporary Tariff on Steel Imports


India will implement a 12% tariff on steel imports for 200 days. This includes steel parts and finished steel sheets from countries like China. India is the second-largest producer of steel in the world. However, it still imports steel from China at lower prices, which affects domestic steel producers. To safeguard the interests of these domestic producers, India has decided to impose a 12% tariff on steel imports. This move is expected to increase the procurement of steel from domestic producers.

Comments

Post a Comment

Popular posts from this blog

U.S. slices planned remittance tax to 3.5% from 5%

U.S. slices planned remittance tax to 3.5% from 5% The recent move by the U.S. House to reduce the proposed excise tax on remittances from 5% to 3.5% offers limited relief to millions of Indians living in the U.S. While the change softens the blow, it still risks disrupting a vital financial lifeline. With remittances from the U.S. forming 27.7% of India’s inflows, such taxation could deter transfers, spark short-term spikes, and push some into informal channels. The Indian government’s delay in assessing the impact is concerning. Moreover, President Trump’s renewed threats against Apple’s manufacturing in India complicate the economic landscape. As global geopolitics intrude on personal finance and trade, proactive diplomacy and economic preparedness are essential.
Read more

Hindi mandatory third language for primary classes in Maharashtra .

Image
Hindi Mandatory as Third Language for Primary Classes in Maharashtra Yesterday, the Chief Minister of Maharashtra stated in the media that the government has decided to make Hindi a compulsory third language for all primary classes in the state. In my opinion, this is not a fair decision taken by the government. Maharashtra is the land of the Marathi language. Hindi evolved from Sanskrit and is now spoken by most people in India. However, this move could lead to the decline of native regional languages, which is a real concern. Taking Maharashtra as an example, we can already see that many people prefer speaking Hindi over Marathi, which is a negative trend. Such decisions may further weaken the presence of the regional language.
Read more

Rupee hits a new low of ₹88.09 responding to additional tariffs

Rupee hits a new low of ₹88.09 responding to additional tariffs The Indian rupee fell 0.58% to 288.09. against the US dol lar on Thursday respond ing to the additional tariffs imposed by the United States. The domestic cur rency may depreciate further in the range of 89.5-290 against the dol lar in the coming weeks, analysts said. Currency dealers react ed two days after the U.S's tariffs on Indian goods kicked in before selling off the rupee Anindya Ban nerjee, Currency and Com modities Head of Kotak curities said that dealers were waiting to see if the central bank would step in and control the volatility "Once they realised RBI didn't, they started to sell off the rupee." The rupee depreciates when foreign exchange traders sell and Chain reaction: A further increase in exports over imports may also quicken the pace of depreciation. REUTERS Setool in the war" appreciates when they buy. He added that the RBI may not have intervened because "when there is a ...
Read more