According to India’s Ministry of Finance, the government adjusted import and export tariffs on raw materials for steelmaking and some steel products.

Among them, a 15% export tariff will be imposed on stainless steel flat-rolled products of a width of 600 mm or more (HS code 7219), stainless steel bars, rods, angles, and sections (HS code 7222), and hot-rolled bars of other alloy steel in irregularly wound coils (HS code 7227).

This measure came into force on May 22, 2022.