India may impose anti-circumvention duty on chemical from China, Korea


PTI, Jun 24, 2020, 5:35 PM IST

New Delhi: India may impose an anti-circumvention duty on a chemical, used in electrical, electronic, mechanical and chemical from Korea and China with a view to guard domestic players from cheap imports from these countries.

Gujarat Fluorochemicals Ltd, on behalf of the domestic industry, has filed the application before the directorate to investigate the matter and impose the duty.

The commerce ministry’s investigation arm DGTR (Directorate General of Trade Remedies) has initiated a probe into an alleged circumvention of the anti-dumping duty imposed on Polytetrafluoroethylene (PTFE) by the countries. It has alleged that anti-dumping duties imposed on imports of Polytetrafluoroethylene from Russia and China are being circumvented.

“On the basis of the duly substantiated application by the applicant…the authority hereby initiates an anti-circumvention investigation,” DGTR has said in a notification. The period of investigation is April 2019-December 2019 (9 months) and the injury period will cover the data from 2016 to 2019 also.

“The countries involved in the circumvention are Republic of Korea and China,” it added.

In international trade parlance, dumping happens when a country or a firm exports an item at a price lower than the price in its domestic market.

Dumping impacts the price of that product in the importing country, hitting margins and profits of manufacturing firms. 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.

Udayavani is now on Telegram. Click here to join our channel and stay updated with the latest news.

Top News

SC upholds validity of UP madrassa law, says it does not violate principle of secularism

Bantwal: Theft at Shree Mahalingeshwar temple

States not empowered to take over all private properties for distribution to serve common good: SC

Chhattisgarh NAN ‘scam’: FIR against 2 retired IAS officers, former AG

Davangere: MLA Basavantappa returns Rs 1.2 lakh left behind at shop

Woman dies after being hit by luxury car driven by ‘drunk’ youth in Karnataka

MLA Bharat Shetty condemns attack on Edneer Math Swamiji’s vehicle in Kerala

Related Articles More

Markets fall in early trade amid unabated foreign fund outflows

New software for fast-tracking project approvals: Karnataka Minister Patil

In-flight passengers can access WiFi services only when allowed, say new rules

SEBI mulls separation of non-regulated activities; ‘cross-default’ definition for debenture trustees

Sensex plunges 942 points to settle at nearly 3-month low; RIL, HDFC Bank biggest drag

MUST WATCH

Gho Pooja in Deepavali Festival

Melukote Deepavali

Ganapathi Co-operative Society Ltd

Udayavani Chinnara Banna 2024

Annapoorna Aahar | Food Places In Mysore


Latest Additions

MUDA Case: K’taka HC adjourns hearing to November 26

SC upholds validity of UP madrassa law, says it does not violate principle of secularism

Union Minister H D Kumaraswamy booked for threatening police officer

Bantwal: Theft at Shree Mahalingeshwar temple

Delhi riots case: HC dismisses plea by Khalid Saifi against attempt to murder charge

Thanks for visiting Udayavani

You seem to have an Ad Blocker on.
To continue reading, please turn it off or whitelist Udayavani.