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India sets new steel quality standards; auto-grade exempt for 6 mths
[NEW DELHI] India imposed quality standards on steel products sold in the country on Thursday, but delayed bringing auto-grade steel imported by car makers under the ambit of the new order by six months.
Indian car makers import about 1 million tonnes of high-tensile steel annually, mainly from Japan and South Korea, and had sought an extension to avoid disruption in production.
Quality standards for all steel products, except auto-grade steel, will come into effect on March 18.
India is likely to delay the implementation of quality standards on auto-grade steel imports, Reuters reported on Wednesday.