India may impose anti-dumping duty on polystyrene from 6 countries
Team Udayavani, Jun 15, 2020, 6:35 PM IST
New Delhi: India may impose anti-dumping duty on imports of Polystyrene, used in refrigerators and air conditioners, from Iran, Malaysia, Singapore, Chinese Taipei, UAE and the US with a view to guard domestic players from cheap imports from these countries.
After conducting a probe, the commerce ministry’s investigation arm Directorate General of Trade Remedies (DGTR) has recommended imposition of the anti-dumping duty on the product from these six countries.
The duty recommended is in the range of USD 35 per tonne to USD 474 per tonne. The directorate in a notification said that in its probe, it has established that dumping is happening and it was impacting the domestic industry.
“The authority is of the view that imposition of definitive anti dumping duty is required to offset dumping and injury. The authority, therefore, considers it necessary and recommends imposition of anti-dumping duty on the imports,” it said.
Imports of the product from these countries have increased to 30037 tonnes during the period of investigations (January-December 2018) from 16915 tonnes in 2015-16. While DGTR recommends the duty, the finance ministry will take the final call to impose the same.
In international trade parlance, dumping happens when a country or a firm exports an item at a price lower than the price of that product in its domestic market. Dumping impacts the price of that product in the importing country, hitting margins and profits of manufacturing firms.
According to global trade norms, a country is allowed to impose tariffs on such dumped products to provide a level-playing field to domestic manufacturers. The duty is imposed only after a thorough investigation by a quasi-judicial body, such as DGTR, in India.
The imposition of anti-dumping duty is permissible under the World Trade Organization (WTO) regime. The duty is aimed at ensuring fair trading practices and creating a level-playing field for domestic producers vis-a-vis foreign producers and exporters. Polystyrene can be moulded into various shapes, and can be extruded to make sheets and can be foamed.
The major applications include appliances such as refrigerators and air conditioners, stationery, household articles, extruded insulation foam, electrical housings, toys and food packaging.
Udayavani is now on Telegram. Click here to join our channel and stay updated with the latest news.
Top News
Related Articles More
Essar Group co-founder Shashi Ruia dies at 80
Sensex, Nifty climb in early trade amid fresh foreign fund inflows
RBI Governor Shaktikanta Das hospitalised
Sensex reclaims 80k mark; Nifty surges over 1% after BJP-led Mahayuti’s win in Maharashtra
Rapid digital expansion to create over 1 lakh new jobs in fiber tech in India in next 5 years
MUST WATCH
Latest Additions
Adityanath hits out at Congress for ‘strangling’ Constitution
Mumbai Indians focussed on getting bowling combination right in IPL mega auction: Ambani
Two leopards captured in village near Bengaluru after fatal attack on woman
Ensure safety of minorities: India on arrest of Hindu leader Chinmoy Das in Bangladesh
Rituals being conducted at temples for Shinde’s continuation as Maharashtra CM
Thanks for visiting Udayavani
You seem to have an Ad Blocker on.
To continue reading, please turn it off or whitelist Udayavani.