India introduces anti dumping duty on 3 Chinese products for 5 years.Imposition took place after the recommendations of the commerce ministry’s investigation arm Directorate General of Trade Remedies (DGTR).
These 3 Chinese Products include wheel loaders, gypsum tiles, and industrial laser machinery.This anti dump duty will stay implemented for five years to support local manufacturers from cheap imports from the neighbouring country.
As the local manufacturers were exporting these products below normal value,they have suffered material injury,DGTR stated in separate probes.As per the notifications from Central Board of Indirect Taxes and Customs (CBIC) issued last month, the duties have been levied on gypsum board/tiles with lamination at least on one side,industrial laser machines(in fully assembled, Semi Knocked Down (SKD) or Completely Knocked Down (CKD) form)used for cutting, marking, or welding operations and wheel loader imported in the form of Completely Built Unit (CBU), or SKD.
So what does this Anti Dump Duty say….
Countries can impose anti dumping measures to determine if the domestic industry has been hurt by a sudden rise in lower cost imports.So they levy duties under the multilateral WTO regime as a counter action.Anti dumping measures are taken to ensure fair & square trade & provide equal opportunity to the domestic industry as well.Both India and China are members of the Geneva based WTO.
Earlier, it was imposed on toughened glass for home appliances; and certain types of flax yarn from China. While DGTR recommends levying of the duty, the finance ministry imposes it.
