BUSINESS

Japan drags India to WTO on steel imports issue

Japan has dragged India to the World Trade Organisation (WTO) against certain measures taken by New Delhi on imports of iron and steel products.

“On December 20, Japan notified the WTO Secretariat that it had requested dispute consultations with India in the dispute ‘India—Certain Measures on Imports of Iron and Steel Products’,” the WTO has said.India has imposed minimum import price (MIP) on imports of certain iron and steel products.In February, India imposed MIP of 173 products for six months, which was later extended twice for two months. Earlier this month, the government extended MIP on 19 products till February 4, 2017.According to the ministry sources, WTO-compliant measures like anti-dumping duty should be used to overcome the issue of cheap imports of commodities. — PTI