New Delhi, Sepy 06: Government on Friday assured the country's stainless steel industry that all necessary steps to boost the sector would be taken and said the negotiations over developed countries levying protecting tariff on steel imports would reach a final agreement next year. "The negotiations over the high tariffs imposed by the developed countries on import of steel from developing countries including India, are on and a final agreement on the issue is expected next year," said J P Singh, Joint Secretary, Ministry of Steel.

The US and EU granting subsidies to their local industries is a ticklish issue and "we hope to solve the issue soon," Singh said adding China has also joined the developing countries on the issue and Third World's voice over the matter is becoming stronger.
Asserting there was huge markets emerging in China and North America, Singh said Government would consider the demands of the industry favourably.
He said reduction in import duty on nickel to 10 per cent was under consideration for the industry, witnessing an eight per cent growth rate. Bureau Report