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India declines Anti-Dumping Import Duty extension for Indonesian hot-rolled steels

25 January 2022 09:57

JAKARTA – The Indian Ministry of Finance is known to deny the recommendation of its Directorate Generale Trade Remedies (DGTR) of India regarding the extension of the Antidumping Import Duty policy for hot-rolled steel products, including the ones imported from Indonesia.

Muhammad Lutfi, Minister of Trade of Indonesia, believed that the Indian government decision that refused the recommendation of Antidumping Import Duty extension for hot-rolled steels is an opportunity for Indonesia to boost steel exports to India. “Indonesia welcomes the decision. It is a decent opportunity for Indonesian exporters to reestablish their export activities,” he said in the press release quoted Tuesday (25/1).

On January 4, 2022, the Tax Revenue Unit (TRU) of the Indian Minister of Finance issued an office memorandum that states rejection towards the recommendation of extending the Antidumping Import Duty for hot-rolled flat products of alloy on non-alloy steel (HRFPANA), including HRFPANA from Indonesia. For the record, Indonesian HRFPANA export generated USD 5.9 million in 2021, massively depleting 81% from USD 31.4 million in 2020.

Indrasari Wisnu Wardhana, Director-General of Foreign Trades of the Minister of Trade, said that DGTR initially suggested extending the Antidumping Import Duty until the next five years. “They had conducted a sunset review regarding the Antidumping Import Duty enforcement for hot-rolled steel products from March 2021 to September 2021,” he explained. (LK/ZH)

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