India has imposed anti-dumping duty on five Chinese goods
including Soft Ferrite Cores, certain thickness of vacuum insulated flask,
aluminium foil, Trichloro Isocyanuric Acid, and Poly Vinyl Chloride Paste Resin
to guard domestic players from cheap imports. These duties were imposed on
these products as the products were exported to India from China at below
normal prices. Department of Revenue has said that the duty imposed shall be
levied for a period of five years on imports of Soft Ferrite Cores, vacuum
insulated flask, and Trichloro Isocyanuric Acid. The anti-dumping duty of up to
$873 per tonne was imposed provisionally on aluminium foil for six months.
The government has imposed the duty in the range of $276 per
tonne to $986 per tonne on imports of the acid (a water treatment chemical)
from China and Japan, while up to 35 per cent duty was imposed on CIF (cost,
insurance freight) value of Soft Ferrite Cores (used in electric vehicles,
chargers, and telecom devices). Similarly on vacuum insulated flask, $1,732 per
tonne anti-dumping duty was levied. The duty on Poly Vinyl Chloride Paste
Resin, ranging from $89 per tonne to $707 per tonne was imposed on the imports
from China, Korea RP, Malaysia, Norway, Taiwan and Thailand for five years.
The anti-dumping probes are conducted by countries to
determine whether domestic industries have been hurt because of a surge in
cheap imports. As a countermeasure, they impose these duties under the
multilateral regime of Geneva-based World Trade Organization (WTO). The duty is
aimed at ensuring fair trading practices and creating a level-playing field for
domestic producer’s vis-a-vis foreign producers and exporters. India has
earlier already imposed anti-dumping duty on several products to tackle cheap imports
from various countries, including China. China is the second largest trading
partner of India. The country has time and again flagged serious concerns over
the widening trade deficit with the neighbouring country, which stood at $85
billion in 2023-24.
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