Govt may slap anti-dumping duty on Chinese castings
New Delhi: The government may impose anti-dumping duty on castings for wind-operated power generators from China to guard domestic players from below-cost imports.
Larsen & Toubro Ltd had filed an application before the Directorate General of Anti-Dumping and Allied Duties (DGAD) for initiation of anti-dumping probe on imports of a certain type of castings for wind-operated electricity generators exported from China.
Castings for wind-operated electricity generators are also known as windmill or wind turbine.
In its final findings, DGAD has concluded that the product has been exported to India from China at below-normal values. “Material injury has been caused by the dumped imports” of the product, it has said in a notification.
The DGAD “considers it necessary to recommend imposition of definitive anti-dumping duty on imports” from China, it added. The product is already attracting anti-subsidy or countervailing duty.
DGAD has recommended a duty equivalent to the difference between the quantum of anti-dumping duty calculated and the quantum of anti-subsidy duty payable.
Countries impose anti-dumping duties to guard domestic industry from surge in below-cost imports.
India has also imposed similar duties on import of several other products including steel, fabrics and chemicals from different countries including China.
Anti-dumping steps are taken to ensure fair trade, and provide a level-playing field to the domestic industry. They are not a measure to restrict import or cause an unjustified increase in cost of products.
- Without rain, South Africa’s Cape Town may run out of water by April
- India vs Afghanistan Test match from 14 June in Bengaluru: BCCI
- Economic growth to boost gold demand: WGC
- Govt to construct 14,460 bunkers at a cost of over Rs415 crore in Jammu
- Bonds slide as RBI says banks must manage own interest rate risk