The Federation of Industrial and Commercial Organization (FICO) has strongly opposed the anti-dumping investigation into hot rolled flat products from Vietnam, Kallanish notes.

FICO is a non-profit Indian industrial representative body established in 2013. Its primary base is in Ludhiana, Punjab.

“The move would likely lead to higher steel prices, exacerbating the difficulties faced by SMEs [small and medium enterprises] and potentially devastating the sector,” FICO’s president, Gurmeet Singh Kaur is quoted as saying by Times of India

Last week, the Ministry of Commerce and Industry’s investigative arm, the Directorate General of Trade Remedies (DGTR), launched an AD probe into hot rolled flat products of alloy or non-alloy steel, not clad, not plated or coated originating or exported from Vietnam (see Kallanish passim).

The probe was launched following a complaint filed by the Indian Steel Association (ISA) on behalf of major steelmakers including JSW Steel and ArcelorMittal Nippon Steel (AMNS) India.

FICO’s chairman KK Seth stated that businesses will face additional challenges to selling their products due to rising raw material costs.

FICO’s senior vice president Manjinder Singh Sachdeva suggested the government ought to ensure a level playing field instead of imposing an AD duty. Sachdeva argued the importance of fair competition for the growth and survival of local businesses especially when facing international trade dynamics.

Earlier this week, some other Punjab-based trade associations such as the Association of Trade and Industrial Undertakings (ATIU) and Chamber of Industrial and Commercial Undertaking (CICU) also opposed the government’s AD probe.

CICU’s president Upkar Singh Ahuja said the investigation would only help large corporations. He added, an escalation in prices would kill MSMEs (Micro, Small and Medium Enterprises) sector.