Govt initiates review of CVD imposition on stainless steel

News Snapshot:

NEW DELHI : The Prime Minister’s Office (PMO) has initiated discussions on the potential imposition of countervailing duty (CVD) on stainless steel, raising hopes within the industry that such an action will curb cheap imports from China and support small and medium producers in India, two people familiar with the development said. The PMO has started talks with the industry and the ministries of steel and commerce, the people said, requesting anonymity. “The PMO has sought details on the impact of not implementing CVD on local producers," one of the two people said. The PMO intervened after the finance ministry...