Anti-dumping duty imposed on Chinese chemical, aluminium foil
India levies anti-dumping duty on a Chinese chemical used in pharma industry and aluminium foil to protect domestic industry from cheap imports
- Motherson Sumi plans to invest Rs2,000 crore this fiscal to build new capacities
- Paytm says never shared users’ data with third-parties, government
- Four years of Modi govt: Labour reforms slow down despite policy revamp
- Job creation still a challenge after four years of Modi govt
- Oil prices slump 3% as Opec and Russia consider output boost
New Delhi: India has imposed anti-dumping duty on a Chinese chemical used in pharma industry and aluminium foil to protect domestic industry from cheap imports.
While an anti-dumping duty of up to $1.63 per kg was imposed on aluminium foil, up to $8.71 per kg duty was slapped on imports of amoxicillin, used in pharmaceuticals. The duty on both the products would be effective for a period of five years, the finance ministry has said in separate notifications.
The commerce ministry’s investigation arm — Directorate General of Anti-Dumping and Allied Duties (DGAD) — in the separate probe had concluded that these products were dumped into India and that has caused material injury to the domestic industry.
Hindalco Industries, Raviraj Foils and Jindal India had filed the application for an anti-dumping probe into imports of aluminium foil, used for packing of medicines, processed foods and cigarette. Similarly, Aurobindo Pharma had filed the application for an anti-dumping probe on amoxycillin from China.
Countries initiate anti-dumping probe to determine if the domestic industry has been hurt by flooding of below-cost import. As a counter-measure, they come up with duties under the multilateral WTO regime.
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. PTI
Editor's Picks »
- Motherson Sumi continues to face margin pressure in foreign markets
- What the Warren Buffett indicator tells us about market valuations today
- Jet Airways lands with a thud in Q4 as fuel costs increase
- IBC amendments: Some dilutions, and a lot more speed
- Patanjali’s gambit is paying off in toothpaste wars