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India plans to impose a 12 percent "safeguard duty" on certain steel products for 200 days to protect its domestic industry from "serious injury" caused by a spike in imports. While the move has been welcomed by local manufacturers, it has raised concerns among downstream industries over rising costs. The decision comes as India navigates the fallout of sweeping United States tariffs on steel and aluminum. Experts have urged closer economic cooperation between India and China to counterbalance the effects of US protectionism. ▲ File Photo: An employee works at a steel processing production line of a factory in Mandi Gobindgarh in the northern state of Punjab, India, October 19, 2024. Photo/Agencies In a notice published on Tuesday, the Directorate General of Trade Remedies, an investigative arm of India's Ministry of Commerce and Industry, said a 12 percent provisional safeguard duty was deemed "appropriate to eliminate the serious injury and threat" to the domestic industry. The a
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