1 min read.Updated: 09 Sep 2020, 01:03 PM ISTLeroy Leo
The DGTR will conduct the investigation for the period of 2019-2020 and will also look at the impact of the dumping on domestic vitamin C manufacturers for the period starting April 2016 till March this year
NEW DELHI :
India has started a probe against dumping of ‘vitamin C’ by China into the country after it received a complaint from Bajaj Healthcare Ltd.
“...the Authority, hereby, initiates an investigation to determine the existence, degree and effect of any alleged dumping in respect of the subject goods originating in or exported from the subject country and to recommend the amount of anti-dumping duty, which if levied, would be adequate to remove the injury to the domestic industry," the Directorate General of Trade Remedies said in a notification dated 4 September.
The DGTR will conduct the investigation for the period of 2019-2020 and will also look at the impact of the dumping on domestic vitamin C manufacturers for the period starting April 2016 till March this year.
The complaint by Bajaj Healthcare, which is the largest producer of vitamin C in India, was also supported by other manufacturers of the product--Amoli Organics Pvt Ltd, Reckon Diagnostics Pvt Ltd, and SR Biochem, DGTR said.
“The Applicant (Bajaj Healthcare) has claimed that its performance has been adversely impacted during the POI (period of investigation) leading to decline in market share, profits, retum on capital employed (ROCE) and cash profits," DGTR said.
Bajaj Healthcare is one of India’s largest manufacturer of vitamin C, which is ascorbic acid, as well as its derivatives. In its investor presentation last month, the company listed Sun Pharmaceutical Ltd, Pfizer Ltd, Abbott Healthcare and Glaxosmithkline Pharmaceuticals among its top clients for active pharmaceutical ingredients in the domestic market.
The investigation comes around the time when there is increased tension in India-China ties, with India banning over 100 mobile applications last week following China’s incursion into Indian territory in Ladakh.