The Indian Stainless Steel Development Association (ISSDA) has asked the government to restore countervailing duty (CVD) on imports of stainless steel from China and Indonesia in the upcoming Union Budget 2022-23 as the association said that the suspension of CVD in the Union Budget 2021-22 has caused the import volume of stainless steel from the above-mentioned two countries to soar, in line with the ISSDA’s expectation.

In India’s Union Budget 2021-22, this CVD measure was suspended for nine months, and it was subsequently extended further to January 31, 2022.