Business Other News 12 May 2016 Govt may impose anti ...

Govt may impose anti-dumping duty on chemical from US, China

PTI
Published May 12, 2016, 5:02 pm IST
Updated May 12, 2016, 5:02 pm IST
DGAD has recommended an anti-dumping duty in the range of USD 0.24-0.40 per kg on the imports.
The Directorate General of Anti-Dumping and Allied Duties under the Commerce ministry, has found that
 The Directorate General of Anti-Dumping and Allied Duties under the Commerce ministry, has found that "Methyl Acetoacetate" has been dumped from these countries and due to that domestic players have suffered material injury. (Photo credit: Global Chemical Price)

New Delhi: India is expected to impose anti-dumping duty of up to USD 0.40 per kg on imports of a chemical, used in pharma and agrochemicals industry, from the US and China to protect domestic players.

In its final findings, the Directorate General of Anti-Dumping and Allied Duties (DGAD), under the Commerce ministry, has found that "Methyl Acetoacetate" has been dumped from these countries and due to that domestic players have suffered material injury.

 

"The authority is of the view that imposition of duty is required to offset dumping causing injury," DGAD said in a notification. DGAD has recommended an anti-dumping duty in the range of USD 0.24-0.40 per kg on the imports.

Laxmi Organic Industries Ltd had filed the petition for initiation of the anti-dumping duty investigation concerning imports of the chemical. While DGAD recommends the duty, the Finance Ministry imposes it. Countries initiate anti-dumping probes to determine if the domestic industry has been hurt by a surge in below-cost imports.

 

As a counter-measure, they impose duties under the multi-lateral WTO regime. Anti-dumping measures are taken to ensure fair trade and provide a level-playing field to the domestic industry. They are not a measure to restrict imports or cause an unjustified increase in cost of products.    

...
Location: India, Delhi, New Delhi




ADVERTISEMENT
ADVERTISEMENT
ADVERTISEMENT
ADVERTISEMENT
ADVERTISEMENT