India imposes anti-dumping duty on chemical shipments from China

29/04/2022 04:24 - 32 Views

India has imposed anti-dumping duty on shipments of a substance used in chemical and pharmaceutical industries for its alleged dumping by the exporters, said an official order. The revenue department said in the order that such dumping has been found to have retarded the domestic industry.

The department imposed anti-dumping duty on ‘N, N’ – Dicyclohexyl carbodiimide (DCC)’ originating or exported from China. The anti-dumping duty varies from $493.7 a tonne to $ 826.7 a tonne depending on the exporting company.

The order said that the product has been exported to India at a price below normal value, thus resulting in dumping.

Also, non-imposition of the anti-dumping duty will adversely and materially impact indigenous production, while imposition of the anti-dumping duty will not materially impact the consumers or the downstream industry or the public at large, the ministry said.

The anti-dumping duty imposed shall be levied for a period of five years (unless revoked, superseded or amended earlier) and shall be payable in Indian currency, the order said.

Source: Mint