Commerce ministry for continuation of anti-dumping duty on certain steel imports from China
The commerce ministry's investigation arm DGTR has recommended continuation of anti-dumping duty for five years on certain steel imports from China with a view to guard domestic manufacturers from cheap inbound shipments from the neighbouring country.
In a notification, the Directorate General of Trade Remedies (DGTR) has said there is a likelihood of continuation/ recurrence of dumping and injury to the domestic industry in the event of revocation of the existing duty on imports of certain 'bars and rods, hot-rolled, in irregularly wound coils, of iron or non-alloy steel or alloy steel' from China.
''The authority recommends continuation of anti-dumping duty on the imports of the subject goods...originating in or exported from the subject country (China) for five years from the date of notification to be issued in this regard by the central government,'' it said.
The recommended duty is the difference between the landed value of the goods and USD 546 per tonne. If the landed value is more than USD 546 per tonne, anti-dumping duty will not be applicable, it added.
''The authority is of the view that continued imposition of anti-dumping duty is required on the imports,'' the DGTR said.
The existing duty was applicable till January next year.
In a separate notification, the DGTR has recommended withdrawal of anti-dumping duty on PVC flex films imported from China.
''Even though there is a continued dumping of the subject goods from China, the likelihood of continuation/recurrence of injury to the domestic industry in the event of revocation of the duty could not be conclusively established due to lack of sufficient independent corroborative evidence,'' it said.
In international trade parlance, dumping happens when a country or a firm exports an item at a price lower than the price of that product in its domestic market.
Dumping impacts price of that product in the importing country, hitting margins and profits of manufacturing firms.
According to global trade norms, a country is allowed to impose tariffs on such dumped products to provide a level-playing field to domestic manufacturers. The duty is imposed only after a thorough investigation by a quasi-judicial body, such as DGTR, in India.
In its probe, the directorate has to conclude whether the imported products are impacting domestic industries.
Imposition of anti-dumping duty is permissible under the World Trade Organization (WTO) regime. India and China are members of this Geneva-based organisation, which deals with global trade norms. China is a key trading partner of India.
The duty is aimed at ensuring fair trading practices and creating a level-playing field for domestic producers vis-a-vis foreign producers and exporters.
(This story has not been edited by Devdiscourse staff and is auto-generated from a syndicated feed.)