March 24 (Bloomberg) -- India imposed taxes on purchases of some aluminum products from China for six months after an industry group complained the imports were hurting local producers grappling with weak demand.
Imports of flat-rolled products will attract 21 percent duty and foil will be taxed at 35 percent, the Central Board of Excise and Customs notified on its Web site. The duties will be in force until Oct. 8 unless revoked earlier.
The curbs are aimed at protecting Indian producers of the metal, including India’s biggest state-run producer National Aluminium Co. and Bharat Aluminium Co., a unit of London-based Vedanta Resources Plc, as they cope with an economic slowdown.
India’s Directorate of Safeguards found Chinese imports weakened local industry and eroded their market share, Ranjit Kumar, joint commissioner, said March 13. The directorate started a probe into Chinese imports in January on the request of the Aluminum Association of India.
China wants to resolve the dispute over India’s import curbs on its products, mainly toys, through talks, while keeping its option to raise the issue at the World Trade Organization, Vice Minister of Commerce Zhong Shan said on March 19.
India in January banned the import of China-made toys for six months, saying they were a hazard to public health and safety. The South Asian nation early this month relaxed the curbs, allowing imports of toys if the consignments were accompanied by certificates of international quality assurance.
Source : www.bloomberg.com