INDIAN GOVT IMPOSES ANTI-DUMPING DUTY ON CHEMICAL FROM 7 COUNTRIES
This step has been taken to safeguard the local industry against cheap imports from seven countries, including
"The anti-dumping duty imposed...shall be effective up to 25 January, 2011," a notification by the Department of Revenue said.
The restrictive duty on 'Poly Vinyl Chloride Paste Resin' would range from US$89.18 per tonne to US$608.57 per tonne, it said.
The Directorate General of Anti-dumping and Allied Duties (DGAD), a nodal agency under the Commerce Ministry, had recommended the duty after an investigation. It had concluded in its probe that the domestic industry had suffered material injury through dumped imports of the chemical from seven nations -
Imports of the chemical from these countries increased to 19,020 tonnes in 2008-09 from 3,636 tonnes in 2005-06.
The principle of the anti-dumping duty, a WTO compatible tool, is to ensure fair trading practices and create a level playing field for domestic producers vis-a-vis foreign producers and exporters, resorting to dumping.
Source: mmail.com.my
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