NMCC asked to probe import from China

17 Nov 2012 CW Team

Following complaints from industry players, the Standard Board of Safeguards asked National Manufacturing Competitiveness Council (NMCC) to study the impact of import of raw materials for stainless steel products from China.

NMCC is asked to study the impact of such imports on the competitiveness of the user industry of the product under consideration. The Board has also sought clarifications from DG for quantum of duty proposed to be imposed, total production of the product under consideration and whether scrap can be used for production of hot rolled steel.

The Directorate General of Safeguards recently received complaint from Jindal Stainless that increased imports of Hot Rolled Flat Products of Stainless Steel of 300 series from China was causing market disruption in India.

It is learnt that the Ministry of Finance has already started a probe into it apart from NMCC. The Board has also reportedly requested NMCC to carry out a study on sales invoices and examine their impact on the competitiveness of the user industry of the product under consideration.

DGS, under the Revenue Department, Ministry of Finance, has powers to investigate existence of market disruption to domestic industry due to increased imports and recommend safeguard duty.

The industry has requested for immediate imposition of safeguard duty a levy to protect a specific industry from an unexpected build up of imports on the shipments of the raw material from the neighboring country for four years.

Resources

17 Jun 2025

RentenPe and Mygate Partner to Transform Rent Payments in India

Through a strategic partnership, RentenPe and Mygate aim to streamline rent payments and promote financial inclusion by enabling rent-based credit scores for Indian renters. RentenPe, India鈥檚 first Rent Credit Score鈩� platform and a pioneer in rental fintech innovation, has entered a significant alliance with Mygate, the leading community management app in the country. This partnership will transform rent transactions for millions of Indian households by embedding RentenPe鈥檚 payment and rent credit scoring technology directly within the Mygate app. With this integration, all ren..

Real Estate

17 Jun 2025

Supreme Unveils New Brand Identity to Elevate Lifestyle

Supreme, a respected name in Indian real estate with a four-decade legacy, has announced a complete rebranding. The move includes the launch of a new logo and a revamped website, both reflecting the group鈥檚 refreshed vision to 鈥楨levate Lifestyle鈥�. This brand transformation represents more than a visual refresh鈥攊t marks a strategic shift in the company鈥檚 mission, visual identity and market positioning. The update will be visible across all of Supreme鈥檚 digital, social and offline communication platforms. At the core of the initiative is a renewed focus on purposeful design..

Infrastructure Urban

17 Jun 2025

Capri Loans Launches #TarrakiKeHaath Campaign Honouring India鈥檚 Everyday Heroes

Capri Global Capital Ltd (Capri Loans), a leading non-banking financial company, has unveiled its latest brand campaign, #TarrakiKeHaath, a powerful tribute to the everyday hands that build India 鈥� from kirana store owners and taxi drivers to dhaba workers, tailors, and carpenters. Narrated by Capri Loans鈥� long-standing brand ambassador and acclaimed actor Pankaj Tripathi, the campaign celebrates the dignity, resilience, and aspirations of self-employed individuals and small business owners who form the backbone of Bharat鈥檚 economy. Conceptualized by Rediffusion Brand Solutions, the..