India Imposes Anti-Dumping Duties on Chinese Imports
India has introduced provisional anti-dumping duties on four Chinese products, including aluminium foil and Soft Ferrite Cores, ranging from USD 276 to USD 1,732 per tonne. These measures, based on DGTR recommendations, aim to protect domestic industries from the impacts of low-cost imports. This action highlights India’s ongoing efforts to manage its significant trade deficit with China, its second-largest trading partner.
India has recently imposed provisional anti-dumping duties on four Chinese products, effective for six months. Specifically, an anti-dumping duty of up to USD 873 per tonne was levied on aluminium foil. Additionally, duties ranging from USD 276 to USD 986 per tonne have been placed on imports of a water treatment chemical, known as acid, from both China and Japan.
Moreover, a duty of up to 35 percent has been applied on the CIF value of Soft Ferrite Cores, which are utilized in electric vehicles, chargers, and telecommunications devices. For vacuum insulated flasks, a duty of USD 1,732 per tonne has been established. These actions are based on recommendations from the Directorate General of Trade Remedies (DGTR), the commerce ministry’s investigative body.
Anti-dumping investigations are conducted to assess whether domestic industries have been harmed due to inflating imports at low prices. The imposition of duties aims to promote fair trading and establish a competitive advantage for domestic producers in relation to foreign exporters. India has previously enacted anti-dumping measures against multiple products to address similar concerns involving cheap imports from various nations, including China.
As members of the World Trade Organization (WTO), both India and China are subject to its regulations. Notably, China remains India’s second-largest trading partner, yet the significant trade deficit with China, amounting to USD 85 billion in the 2023-24 period, has raised alarms in India. This growing imbalance remains a pivotal issue in the bilateral trade relationship.
In summary, India’s recent imposition of anti-dumping duties on several Chinese products seeks to mitigate the adverse effects of cheap imports and bolster domestic industries. By ensuring equitable trade practices, the government aims to foster a competitive market environment that benefits local producers. Given the ongoing trade deficit with China, these measures further underscore India’s commitment to addressing challenges in international trade.
Original Source: m.economictimes.com
Post Comment