Desk Correspondent , Delhi - The Indian government has officially imposed a three-year tariff on specific steel products to safeguard the domestic industry from a surge in low-priced imports. This decisive move is expected to primarily impact steel shipments coming from China, which have significantly increased in volume over the past several months. By introducing these protective duties, the Ministry of Finance aims to create a level playing field for Indian steel giants who have been struggling to compete with the influx of underpriced foreign goods that were hurting local production.

Industry experts believe this policy shift will provide much-needed relief to local manufacturers who have raised concerns about market distortion and unfair pricing strategies. The new tariffs are designed to gradually stabilize the market while encouraging the "Make in India" initiative within the heavy industry sector. While the move might lead to a slight increase in raw material costs for some construction firms, the long-term goal is to ensure the sustainability and growth of India’s own steel-making capacity amidst global economic shifts.

Response from the international market has been swift, with trade analysts predicting that Beijing may raise concerns regarding these barriers at upcoming global trade forums. However, Indian officials have maintained that the measures are strictly within the framework of international trade rules intended to prevent "dumping" practices. As the three-year period begins, the government plans to monitor import levels closely to ensure that the domestic supply remains robust and that local industries can thrive without the threat of predatory pricing from abroad.