According to foreign media reports on June 24, India issued a statement on June 23 that it will charge for steel products imported from China, Vietnam and South Korea, and will charge US$13.07 to US$173.1 per ton (about RMB 92 to 1,224 yuan) ) The cost varies from five years. In June last year, the Indian steel sector also increased the cost of imported steel products from 7.5% to 12.5% to 15%.
Some experts pointed out that India imposes fees on imported steel products to protect the local steel manufacturing industry. The country has been committed to the development of the country's steel manufacturing industry, and achieved some results. It is reported that in 2018, India surpassed Japan to become the world's second largest steel producer. In order to further develop the local manufacturing industry with the help of steel, India proposed in May last year to achieve a magnificent 300 million tons of crude steel production capacity in fiscal year 2031 aims.
However, the ideal is full, but the reality is not satisfactory. According to official Indian data, in the 2019 fiscal year, India’s exports of finished steel products were 6.36 million tons, a year-on-year decrease of 34%. Over the same period, imports of finished steel increased by 4.7% to 7.84 million tons. After all, India's steel "export" failed to outperform "import", which is somewhat frustrating for India's efforts to develop local manufacturing.
The Indian Iron and Steel Association also predicts that the country’s steel demand will continue to grow in fiscal year 2020 and fiscal year 2021, with an increase of 7.2%. The country also charges fees for imported steel products, which may affect the import business of local steel importers. In addition, affected by the epidemic, its aluminum export business has also been hit repeatedly. According to a report on Sina Finance on June 22, Aluminium Industries of India plans to sell 65% of its output overseas this year, but due to the decline in overseas demand, aluminum prices have fallen and the operating income of the aluminum business has fallen by 11%.
It should be noted that Indian representatives have always wanted to achieve the goal of "manufacturing country", so that recently there have been some extreme voices in the country-away from Chinese products. Officials in India also announced that the products imported from China can be produced independently by India. In this regard, most printing media and experts remain sober, saying that it is impractical to stay away from Chinese products. According to print media reports on June 20, Chinese mobile phones were sold out within minutes after being launched on the Indian version of Amazon.com on the 18th.
