DGTR Recommends Extension Of Anti-Subsidy Duty On Chinese Chemical
Date
6/22/2024 2:15:19 PM
(MENAFN- KNN India)
New Delhi, Jun 22 (KNN)
The Directorate General of Trade Remedies (DGTR) has proposed the continuation of countervailing duties on imports of Atrazine chemical, a chemical used in pesticide production, from China for an additional five years.
This recommendation aims to protect domestic manufacturers from subsidised foreign competition.
In a recent notification, the DGTR stated, "The authority considers it appropriate and necessary to recommend continuation of definitive duty...for a period of five years."
The directorate has suggested a duty of up to 11.94 per cent on the product, though the final decision rests with the Finance Ministry.
The DGTR's investigation concluded that the existing duties, initially imposed in September 2019, have been beneficial to the Indian industry.
The measures have reportedly encouraged new domestic producers to enter the market and enabled existing manufacturers to expand their capacity.
The review was initiated following an application from a domestic manufacturer seeking an enhancement of the current duty.
The applicant argued that subsidised exports from China were adversely affecting Indian producers.
Countervailing duties are permitted under global trade norms to offset the impact of subsidised imports on domestic industries.
These measures are designed to protect local manufacturers from unfair price competition that could potentially harm their profit margins.
The DGTR's recommendation comes as part of a sunset review of the existing duties.
If approved by the Finance Ministry, the extended measures would aim to continue safeguarding Indian producers against what the authority deems to be unfair trade practices.
(KNN Bureau)
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