India slaps anti-dumping duty on chemical from China, Iran.

New Delhi: Revenue Department has slapped anti-dumping duty of up to USD 168.76 per tonne on import of a chemical used in textile industry from five countries, including China and Iran, to protect domestic manufacturers.

MCC PTA India Corp and Reliance Industries had jointly filed an application seeking anti-dumping probe.

The import restrictive tax has been imposed for five years by the Revenue Department on recommendations of the Directorate General of Anti-Dumping and Allied Duties (DGAD), said a notification of Central Board of Excise and Customs (CBEC).

The imports of the chemical from the five countries (China, Iran, Indonesia, Malaysia and Taiwan) will attract anti-dumping duty in the range of USD 83.08 per tonne to USD 168.76 per tonne.

In December last year, the Department had imposed provisional anti-dumping duty on the imports.

The DGAD, after an investigation, had found that the chemical 'Purified Terephthalic Acid' was being exported to India from the five countries below its normal value. Thus the chemical was being dumped into India.

It had made the case for anti-dumping duty on the chemical to remove the injury to the domestic industry.

Countries initiate anti-dumping probes to determine if the domestic industry has been hurt by a surge in below-cost imports. As a counter-measure, they impose duties under the multi-lateral WTO regime.

Anti-dumping measures are taken to ensure fair trade and provide a level-playing field to the domestic industry. They are not a measure to restrict imports or cause an unjustified increase in cost of products.

Source : btvin.com