India Investigates Surging Chemical Imports Impacting Local Industry

India initiates an investigation into increased imports of specific chemicals from South Korea that may harm domestic producers. KLJ Plasticizers Ltd filed a complaint under the India-Korea free trade agreement's safeguard measures. The surge in imports could lead to duty concessions being revoked to protect the local industry.

India has launched an investigation into a noticeable rise in the import of certain chemicals used in the plastic industry from South Korea, amid concerns about their impact on local producers.

KLJ Plasticizers Ltd has lodged a complaint under the India-Korea free trade agreement, seeking the withdrawal of duty concessions on 'Non-phthalate Plasticizers' such as Dioctyl Terephthalate (DOTP) and Diethylhexyl Cyclohexane (DEHCH), citing serious injury to the domestic market.

The Directorate General of Trade Remedies (DGTR) found enough evidence for a probe, aiming to ascertain if increased imports, due to phased duty eliminations, threaten the domestic industry. The finance ministry will decide on potential duties to ensure pricing competition.