Anti-Dumping Investigation Initiated Against Chinese LNG Fuel Tank
Date
12/27/2024 2:30:30 PM
(MENAFN- KNN India)
New Delhi, Dec 27 (KNN) India's commerce Ministry has initiated a significant investigation into the alleged dumping of liquified natural gas (LNG) fuel tanks from China, following a formal complaint from domestic manufacturer Inox India Ltd.
The probe, launched by the Directorate General of Trade Remedies (DGTR), focuses on tanks primarily used for storing and transporting methane gas in heavy vehicles.
Inox India Ltd has petitioned for the implementation of anti-dumping duties, claiming that the influx of cheaper Chinese imports is causing substantial damage to the domestic industry's profit margins.
The investigation comes amid growing concerns over the surge in imports, which reached USD 93.6 million in 2023-24, compared to USD 84.7 million in 2022-23.
Current fiscal year figures show imports valued at USD 42.7 million during the April-October period.
The DGTR, having reviewed the initial evidence presented by the domestic industry, determined sufficient grounds exist to launch a formal investigation.
Should the probe confirm material injury to domestic manufacturers due to dumping practices, the DGTR will recommend appropriate anti-dumping duties to the finance ministry, which holds the ultimate authority in implementing such measures.
This investigation aligns with India's broader trade defense strategy under the World Trade Organisation (WTO) framework, which permits countries to impose anti-dumping duties to ensure fair competition.
India has previously enacted similar measures on various products, particularly those imported from China, to protect domestic industries and establish a level playing field between local and foreign manufacturers.
(KNN Bureau)
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