The All-India Stainless Steel Cold Rollers Association, a leading body of Indian stainless steel producers and suppliers, is seeking the government’s resumption of countervailing duty (CVD) on stainless steel flat products by citing a surge in stainless steel imports after the measure was canceled.

According to India’s Budget, the CVD measure on imports of certain hot-rolled and cold-rolled stainless steel flat products from China has been provisionally lifted until September 30, 2021, and the CVD order on Indonesia’s stainless steel flat products was also revoked.

The association said that India’s Budget decision resulted in a surge in imports into the Indian market. During the period from April to July of the fiscal year 2022, stainless steel imports soared by 177% year on year.

The association stated in a letter to the Finance Minister that as Indian is recovering from the COVID-19 epidemic, if the CVD measure is not immediately imposed, the micro, small, and medium enterprises (MSME) will unable to continue their business and choose to close their factories and become traders.