(MENAFN- KNN India)
New Delhi, Nov 13 (KNN) India has imposed an anti-dumping duty of up to USD 557 per tonne on the chemical Epichlorohydrin, primarily used in the adhesive industry, in a bid to protect domestic manufacturers from cheap imports.
The duty will apply to imports of the chemical from China, Korea, and Thailand for the next five years, as per a notification issued by the Department of Revenue.
The imposition follows an investigation by the Directorate General of Trade Remedies (DGTR), which found that Epichlorohydrin was being sold at below-normal prices in the Indian market, causing harm to local producers.
This is part of India's ongoing efforts to safeguard its domestic industries from unfair trade practices, such as dumping-where foreign producers sell goods at prices lower than the cost of production or market value.
The anti-dumping duty, which can range up to USD 557 per tonne, is aimed at ensuring fair competition and a level playing field for Indian manufacturers.
It is also a response to growing concerns over the influx of cheap imports, which have impacted the profitability and sustainability of several Indian industries.
Anti-dumping measures are not unique to India. Many countries, including the United States and members of the European Union, impose such duties to shield local industries from the adverse effects of unfair trade practices.
These measures are authorised under the multilateral trade framework of the World Trade Organisation (WTO), which provides guidelines for investigating and addressing dumping.
India has a history of imposing anti-dumping duties on a wide range of products, particularly from China. In recent years, such measures have been extended to sectors like steel, chemicals, and textiles, to counter the adverse effects of surging imports.
With the latest duty on Epichlorohydrin, the country continues to bolster its trade defense mechanisms, aiming to protect domestic producers from a surge in low-cost foreign goods that threaten their market share.
(KNN Bureau)
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