DGAD’s Anti-Dumping Duty Hits Importers Of Textile Chemical

0, 0

Domestic manufacturers of chemical used for textile can heave a sigh of relief as based on a complaint filed by two Indian textile giants, the Centre’s revenue department slapped anti-dumping duty, with the ceiling for applicability placed at USD 168.76 per ton. The anti-dumping duty applies to five countries including China and Iran.

The anti-dumping probe was sought by MCC PTA India Corp and Reliance Industries Following the probe action, the revenue department announced that the restrictive import clause was applicable for a period of five years. The Revenue Department acted under the recommendations of the Directorate General of Anti-Dumpingand Allied Duties (DGAD). The action was reported in a notification issued by the Central Board of Excise and Customs (CBEC). 

Also Read  IACC Targets US$ 100 Billion In US-India Collaborative Trade In Textiles

The Revenue Department disclosed that the five countries comprised China, Iran, Indonesia, Malaysia and Taiwan. The duty imposed ranges from USD 83.08 per ton to USD 168.76 per ton. Earlier, in December last, provisional anti-dumping had been introduced by the revenue department for the imports of the chemical. 

The said chemical, Purified Terephthalic Acid was found to be exported to India from these five countries below the normal value, when the DGAD probed the issue. The DGAD concluded positively that the chemical was being dumped into India. The decision taken by DGAD is in the interests of the domestic industry and will protect it from injury, disclosed a revenue official.

Also Read  India’s Ambani-owned Reliance Industries acquires amanté from MAS Holdings

In general, anti-dumping probes are initiated by countries to verify whether the prospects of the domestic industry are being impaired by imports that are done at below cost rates. The World Trade Organization (WTO) provides for counter-measures for imposition of such duties.

Also Read  GHCL Ltd. Signs MOU To Invest Rs 500 Crore In Tamil Nadu


Please enter your comment!
Please enter your name here