SAFEGUARD DUTIES ON MEDICAL DEVICES
Which duty is it- CVD, safeguard or dumping?
The Directorate General of Trade Remedies (DGTR) has proposed a 12% provisional safeguard duty on certain steel products for 200 days to protect the domestic industry. This measure, alongside anti-dumping and countervailing duties, aims to address issues of dumping, subsidized imports, and unexpected surges in imports.
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Kerala has become India's first state to create a commission for senior citizens, focusing on their rights, welfare, and rehabilitation. Chief Minister Pinarayi Vijayan said the new law will enhance initiatives against neglect and exploitation, and promote active participation in society. The commission aims to safeguard the well-being and address the hardships faced by the elderly.
Safeguard measures to cut India's steel imports by 50% in FY26: Experts
India's steel imports could halve by FY26, as the government considers a 12% provisional safeguard duty on some steel products. This measure is anticipated to boost domestic manufacturers' profitability and capacity utilization, with imports expected to decline significantly and domestic demand growing steadily.
India proposes 12% safeguard duty on steel imports, stocks surge
The DGTR has recommended a 12% provisional safeguard duty on certain steel products for 200 days to protect Indian steelmakers from rising imports. This move has led to an increase in the shares of major steel companies. The duty aims to counter the increased imports due to various trade protection measures and changes in the global steel sector.
Impose safeguard duties on medical devices: AiMeD
The Association of Indian Medical Device Industry (AiMeD) has requested the government to impose safeguard duties on 12 medical device categories to shield domestic manufacturers from cheap imports. AiMeD highlighted a significant increase in imports, notably in syringes and needles, primarily from China, the US, and Singapore.
India moves WTO against EU’s new steel safeguards, fears trade impact
India has requested consultations with the EU at the WTO regarding the EU's planned changes to safeguard measures on certain steel imports, which could affect India's steel industry. The EU's adjustments, set to begin in two phases, include a 25% out-of-quota duty until 2026 and alterations to residual quotas and quota caps.
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EEPC India urges a balanced approach to safeguard duty to protect MSMEs and user industries
Pankaj Chadha, EEPC India Chairman, supports the 12% safeguard duty on flat steel imports but emphasizes the need for provisions to support MSMEs against price hikes.
India's proposed steel import tax smaller than hoped, but 'better than nothing', steelmakers say
India proposed a 12% tax on steel imports, providing some relief from cheap Chinese imports. The move, while lower than the expected 15%-25% tax, aims to support domestic steel producers. The measure is intended to prevent serious injury to India's steel industry and allow local producers to remain competitive amidst increasing imports from China, South Korea, and Japan.
India focusing on core trade issues in FTAs for early outcomes: Commerce secretary Sunil Barthwal
India emphasizes core trade issues such as tariffs and non-tariff barriers in FTAs to expedite negotiations for faster outcomes. This approach is meant to maintain business interest and achieve quick results, aiming to double India-LAC trade from USD 50 billion to USD 100 billion in coming years.
Global uncertainty may cloud steel outlook: Aditya Welekar
Steel industry shares reflect anticipated price hikes and valuation improvements due to the imposition of a 12% safeguard duty, which may lead prices to rise by Rs 1000 to Rs 2000 per tonne. Continuous monitoring is required due to geopolitical and macroeconomic uncertainties, especially from China.
India follows Trump to fight global steel glut with tariffs
India plans to impose temporary 12% safeguard duties on a broad range of steel products to protect its domestic market from increased imports, particularly from China. This move follows similar measures by other nations and comes after the US imposed tariffs. The safeguard duties will be in place for 200 days, pending a final decision.
Tata Steel shares up 3%, Emkay says this is point of inflection
Tata Steel shares surged 3% to Rs 159.25 amid a sector-wide rally after the DGTR proposed a 12% safeguard duty on certain steel imports. Emkay Global sees the stock at an "inflection point," citing volume growth, a potential European turnaround, and attractive valuations. The brokerage retained a ‘Buy’ rating, expecting a 7-8% CAGR in steel demand.
SAIL, NMDC Steel shares rally up to 7% on DGTR’s recommendation of 12% safeguard duty
Steel Authority of India (SAIL) and NMDC Steel shares saw up to an 8.3% surge on the BSE after the Directorate General of Trade Remedies (DGTR) recommended a 12% safeguard duty on specific steel imports. This temporary measure aims to support domestic producers against unfair trade practices.
SAIL, other steel stocks zoom up to 7% after DGTR recommends 12% safeguard duty on some products
Shares of steel companies like NMDC Steel and SAIL surged up to 7% after the Directorate General of Trade Remedies recommended a 12% safeguard duty on certain steel imports to curb the influx. The DGTR suggests this temporary duty for 200 days to protect the domestic industry from serious injury.
Indian government recommends 12% temporary tax on some steel products
India has proposed a 12% safeguard duty on select steel imports for 200 days to protect domestic producers. The temporary tax aims to curb rising imports and stabilise the local market. Announced in a government notice on Tuesday, the move reflects India's push for self-reliance in the steel sector.
A China problem is hampering rating headroom of India's steel giants
Fitch Ratings downgrades JSW Steel and Tata Steel due to pressures from cheap Chinese imports and aggressive global tariff policies. Despite rising domestic steel demand, both companies may face persistent margin pressures. Potential government measures and deferral of capital expenditures could offer some relief. India’s steel demand is expected to grow by 10% fueled by public spending.
Smart about smartphones: India must act fast to retain electronics trade advantage amid US tariff shift
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India weighs lower tariffs for US medical devices amid trade talks
The Indian government is considering lowering tariffs on US medical devices to mitigate potential US tariff threats on Indian exports. While this aims to ease trade tensions, industry experts express concerns about the impact on India's self-reliance. Stakeholders suggest reciprocal market access as Indian exporters face high regulatory barriers in the US.
EU to look at import limits for aluminium sector, draft document shows
The European Commission is considering import curbs and export duties on metals to support its industry in response to U.S. tariffs on aluminum. Measures include new scrap metal export duties and a "melted and poured rule" to prevent minimal transformation imports. These steps aim to address market disruptions and reinforce the EU's Clean Industrial Deal.
Vice President Jagdeep Dhankhar resumes duties as RS Chair; MPs call on him, welcome him back
Vice President Jagdeep Dhankhar resumed his duties in Parliament after being discharged from AIIMS following cardiac treatment. Several political leaders, including Prime Minister Narendra Modi, inquired about his health and wished him a speedy recovery. Dhankhar had been advised to rest for a few days.
Apple to begin airpods production for exports at Foxconn's Hyderabad plant from April
Apple is set to commence the production of AirPods for export at its Foxconn facility in Hyderabad starting April 2024. This move follows the establishment of a factory with an investment of USD 400 million. The decision aligns with Apple's strategy to expand its manufacturing base outside the US amidst ongoing tariff discussions.
India, New Zealand announce resumption of FTA talks
India and New Zealand have resumed negotiations for a Comprehensive Economic Cooperation Agreement after a decade-long hiatus. The agreement aims to enhance trade in goods, services, and investments, potentially unlocking new business opportunities and improving market access. The discussions will focus on balancing outcomes that benefit both nations.
India-EU FTA: Think tank points out one sector where India must demand reciprocity
India seeks to enhance its export potential in the proposed FTA with the EU by aiming for reciprocal concessions, particularly in the medical devices sector. Current negotiations are imbalanced, with the EU imposing stringent regulatory barriers, making it difficult for Indian exporters to access the EU market.
Parl panel on health: Cos scared to set up units due to CDSCO approach
The Parliamentary Standing Committee on Health and Family Welfare criticized the Central Drugs Standard Control Organisation (CDSCO) for delays and lack of transparency in the drug licensing process. They recommended streamlining the system and establishing an independent advisory board to improve India's medical device industry.
US tariffs unlikely to dent steel companies as exports share low
The 25% tariffs on US steel and aluminium imports will have a minimal impact on India's steel industry due to its low export volume to the US. However, the higher prices may affect India's $5 billion annual engineering goods exports. The government is taking steps to sustain domestic steel industry profitability amidst the global economic instability.
Zydus eyes major stake in French medtech Amplitude for Rs 2,446 crore
India's Zydus Lifesciences is set to acquire an 85.6% stake in France's Amplitude Surgical for nearly $280 million to expand in the global medical devices market. The acquisition, at a premium of nearly 81% to Amplitude's last close, aims to leverage growth opportunities in surgical technologies for lower-limb orthopedics and expand internationally.
India readies terms of reference for bilateral trade pact with US
India is preparing for a potential bilateral trade agreement with the US, aiming to complete the first phase of negotiations by fall. The commerce ministry is gathering industry wish lists for tariff concessions from Washington. The discussions include reducing tariffs on items such as American nuts and seeking a zero-duty structure for textile trade to boost exports.
Metal stocks rise as Jefferies maintains bullish stance on Indian metals
Tata Steel has been given a ‘Buy’ rating, with Jefferies increasing its target price to Rs 180 from Rs 165. Meanwhile, JSW Steel has received a ‘Hold’ rating, with its target price revised upward to Rs 920 from Rs 850. Hindalco continues to be a favored pick with a ‘Buy’ rating and a target price of Rs 800.
Metal sector shines amid dollar weakness, trade uncertainty. Mayuresh Joshi explains what’s next
The Nifty Metal Index has surged recently due to a weaker dollar and potential safeguard duties. However, macroeconomic challenges and global pricing pressures could impact the sector's momentum. Despite these headwinds, low inventory levels and the shift towards green steel present structural positives for the future.
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