Minimum Import Price (MIP) on Iron and Steel under Chapter 72 of ITC (ITS), 2012 - Schedule - I (Import Policy): amendment in import Policy Conditions. - 38/2015-2020 - Foreign Trade Policy

Minimum Import Price on iron and steel imports introduced; specific exemptions for advance authorisations and API-grade pipeline steel apply.

Introduction of a Minimum Import Price on 173 HS codes under Chapter 72, Schedule I (Import Policy), establishing CIF-basis floor prices for listed iron and steel products as set out in the Annex. Exemptions apply for imports under the Advance Authorisation Scheme, API-grade steels used for pipeline manufacture (X-52 and higher), and shipments under Letters of Credit entered prior to the notification, all subject to the Foreign Trade Policy provision. The MIP regime is time-limited to six months from notification or until further orders.