New Delhi: UK has agreed not to impose a four percent countervailing duty (CVD) on certain Indian steel products which would help domestic traders to increase shipments, said a senior government official on Monday. The UK's decision not to impose the CVD on Indian steel bars and rods follows bilateral meetings at the World Trade Organisation (WTO) in Geneva.
India's trade defence wing (TDW) has held bilateral meetings at WTO and argued against the extension of CVD against Indian exporters. TDW argued that there was no injury to the British domestic industry and requested the UK to reconsider imposition of the duty, said the official.
"So, the UK has agreed that no injury is being caused to their domestic industry and this four percent duty would go away. It will help our exporters get greater market access there," said the official.
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