P D Sharma opposes protections given to main steel producers by GoI

Ludhiana, April 23, 2016: Government of India has given much protection to the main steel producers. Shri P.D.Sharma, President, Apex Chamber of Commerce & Industry (Punjab) opposed these protections. They hurt steel using industry.
In a statement here today, he added import duties have been increased. Minimum import price of 173 steel items have been fixed by the government of India. In addition to these 20% safeguard duty has also been clamped (levied).
The above levies have enabled main steel producers to fix prices arbitrarily. They have been doing this for quite a long time despite protests from steel users.
Government of India, Ministry of Commerce & Industry has now assured him vide letter dated April 18, 2016 that the apprehension expressed by the Apex chamber shall be kept in full view, he revealed.
Shri Sharma has also written a letter to Prime Minister, Finance Minister & Steel Minister in this regard. During this recession industry has to face very stiff competition. India has free trade agreements with many countries. Therefore industry has to face competition with cheap imports of goods.