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.

(With inputs from agencies.)