| Date: |
24-02-2016 |
| Subject: |
India starts probe into circumvention of duty on steel items |
|
NEW DELHI: India has initiated investigations into circumvention of anti-dumping duties on imports of certain stainless steel products from China, Korea, EU, South Africa, Taiwan, Thailand and the US.
The probe has been initiated by the Directorate General of Anti-Dumping and Allied Duties (DGAD), under the Commerce Ministry, on a complaint by Jindal Stainless Ltd.
The DGAD has found "sufficient prima facie evidence" of circumvention of anti-dumping duties leviable on "cold-rolled flat products of stainless steel" by these countries.
The authority "hereby initiates an investigation into the alleged circumvention of the anti-dumping duties... to determine the existence, degree and effect of the alleged circumvention and to examine the need to extend the existing anti-dumping duty to the circumventing products," a ministry notification said.
It is alleged that the existing anti-dumping measures imposed in 2010, and amended later, are being circumvented.
"It is decided that sufficient evidence exists to justify the initiation of an investigation.
"... the authority, upon determination that circumvention of anti-dumping duty exists, may recommend extension of anti dumping duty to imports of articles found to be circumventing an existing anti dumping duty may apply retrospectively from the date of initiation of the investigation," it added.
The period of investigation was from July 2014 to September 2015 (15 months).
In December last year, India had imposed anti-dumping duty of up to 57.39 per cent on import of the products from China, Korea, the US and EU for five years to save the domestic industry from cheap shipments.
Recently, the government had imposed a minimum import price (MIP) on 173 steel products ranging between $341 to $752 per tonne.
Source : economictimes.indiatimes.com
|