New Delhi. To protect domestic industries from cheap and unfair imports, the Government of India has imposed anti-dumping duty on two major products coming from China. The actions taken so far this month include a refrigerant gas and certain types of steel products. The government says that these goods were being sold in the Indian market at prices much lower than their actual price, due to which the country’s companies were suffering financial losses.
Which products were tightened?
According to the notification issued by the Finance Ministry, cold-rolled non-oriented electrical steel and 1,1,1,2-Tetrafluoroethane (R-134a) gas are the major ones. On which anti-dumping duty has been imposed. Let us tell you that R-134a gas is mainly used in air conditioners and refrigeration equipment, while related steel products are used in power equipment and industrial units.
What is anti-dumping duty?
The purpose of anti-dumping duty is to protect the domestic industry in cases where a country sells its products to another country at unfairly cheaper prices. Under World Trade Organization (WTO) rules, the country concerned has the right to impose duty in such cases.
Duty will remain in force for five years
In case of steel products, anti-dumping duty has been fixed at $ 223.82 per tonne on some Chinese companies and up to $ 415 per tonne on some others. At the same time, a maximum duty of $ 5,251 per tonne has been imposed on R-134a gas. In both cases this duty will remain in effect for five years.
decision taken after investigation
This decision has been taken on the basis of detailed investigation and recommendations of the Directorate General of Trade Remedies (DGTR) functioning under the Ministry of Commerce. The investigation revealed that import of the concerned products at low prices was proving to be detrimental to Indian industries.
Action on imports from Vietnam also
Not only China, but India has also imposed anti-dumping duty on ‘Calcium Carbonate Filler Masterbatch’ coming from Vietnam. This product is extensively used in plastics industry. The government believes that domestic plastic manufacturers were suffering losses due to cheap imports.
Comments are closed.