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Union Minister of Heavy Industries and Steel H D Kumaraswamy welcomed the decision of the Finance Ministry to impose 12 per cent safeguard duty on on imported steel flat products.

India has imposed a 12 per cent safeguard duty on five steel product categories for 200 days to protect domestic producers from rising imports, particularly from China, Japan, Korea, and Vietnam.

India imposes 12% safeguard duty on steel products to protect domestic industry, welcomed by steel minister and Indian Steel Association.