NEW DELHI: The government has extended by five years the anti-dumping duty imposed on import of chemical compound PTFE, used as a non-stick coating for pans and other cookware, to safeguard the domestic industry.
The revenue department has issued a notification imposing $2,637 per tonne as anti-dumping duty on imports of polytetraflouroethylene (PTFE) from China.
The duty was first imposed for five years in August 2011 and extended by one year last August.
A review of the anti-dumping duty has concluded that "there is continued dumping of the product concerned from China, both in absolute terms and in relation to production and consumption in India causing injury to the domestic industry", the department said.
It found the imports "significantly undercutting" the prices of the domestic industry.
Further, the imports are found to be suppressing and depressing the domestic prices.
The notification said the review found that the performance of the domestic industry has deteriorated in terms of profits and return on investments and the dumped imports from China continue to cause injury to the domestic industry despite imposition of the anti-dumping duty.
Chinese producers have "significant capacity which establishes that in the event of cessation of duties, exports to India will intensify", it said while adding that the dumping of the product under consideration from China is likely to continue and intensify should the anti-dumping duty be revoked.
"The anti-dumping duty imposed shall be effective for a period of five years (unless revoked, superseded or amended earlier)," the notification added.
India imposes anti-dumping duty to ring-fence the domestic industry from an increase in cheap price import.
Commerce and Industry Minister Nirmala Sitharaman last week told the Rajya Sabha that "anti-dumping duty is in force on 93 products concerning imports from China.
"These products belong to a broad group of chemicals and petrochemicals, products of steel and other metals, fibres and yarn, machinery items, rubber or plastic products, electric and electronic items and consumer goods, among others.
India's imports from China dipped to USD 61.28 billion in 2016-17 as against USD 61.7 billion in the previous year.
Source: economictimes.indiatimes.com