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India must weigh all options of trade pacts to boost domestic units: TISCO official

Jamshedpur: India should assess the pros and cons of bilateral and multilateral trade agreements to achieve its objectives to strengthen domestic industries, T V Narendran, Managing Director, Tata Steel (India &South East Asia) yesterday said.Commenting
PTI September 16, 2015 10:10 IST
PTI

Jamshedpur: India should assess the pros and cons of bilateral and multilateral trade agreements to achieve its objectives to strengthen domestic industries, T V Narendran, Managing Director, Tata Steel (India &South East Asia) yesterday said.

Commenting on the issue of Safeguard Duty imposed by the government, Narendran said in a statement, “Government of India has recognized the issues being faced by the domestic steel industry arising out of dumping of steel from countries having surplus steel capacities.”

The safeguard duty should help in curbing predatory pricing and surging imports which has seen an increase of about 60 per cent over the corresponding period last year, he stated.

He further stated that India is an ideal location to have steel industry to grow as it has the required raw material resources and the markets to consume steel and the Indian Steel Industry has been the largest investors in manufacturing in the Indian Economy in the last ten years.  This also corroborates the ‘Make in India' campaign of Centre, he said.