A worker observes an electric furnace inside a steel factory on the outskirts of Jammu. (File Photo | Reuters)
Business
India prepared to impose 'safeguards' if steel imports rise: government source
India saw a rise in imports since the beginning of fiscal year 2018/19, making it a net importer for the first two months of the fiscal year.
NEW DELHI: India is planning to impose "safeguards" on steel imports if the volumes coming into the country increase beyond a certain level, a government source said in New Delhi on Tuesday.
India, which was a net exporter of steel until March 2018, saw a rise in imports since the beginning of fiscal year 2018/19, making it a net importer for the first two months of the fiscal year, according to government figures.
The source did not specify the measures that would make up the safeguards but said steps were under discussion.