India implements 5 yrs anti-dumping duties on Chinese imports

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India implements 5 yrs anti-dumping duties on Chinese imports

India implements 5 yrs anti-dumping duties on Chinese imports

Industry News
Jan 12,24

These measures were instituted based on the findings of the Directorate General of Trade Remedies (DGTR), an investigative arm of the commerce ministry.

India implements 5 yrs anti-dumping duties on Chinese imports

India has implemented a five-year anti-dumping duty on three Chinese products—wheel loaders, gypsum tiles, and industrial laser machinery—in order to shield local manufacturers from the adverse effects of inexpensive imports from China. These measures were instituted based on the findings of the Directorate General of Trade Remedies (DGTR), an investigative arm of the commerce ministry.

The DGTR, through separate inquiries, determined that these products had been sold in Indian markets at prices below the normal value, constituting dumping. According to recent notifications from the Central Board of Indirect Taxes and Customs (CBIC), the imposed duties include gypsum board/tiles with lamination on at least one side, industrial laser machines in fully assembled, Semi Knocked Down (SKD), or Completely Knocked Down (CKD) form for cutting, marking, or welding operations, and wheel loaders in the form of Completely Built Unit (CBU) or SKD.

These anti-dumping duties, as stipulated in the notifications, will be applicable for a period of five years unless revoked, superseded, or amended. Earlier instances of such duties were placed on toughened glass for home appliances and specific types of flax yarn imported from China.

Anti-dumping investigations are initiated by countries to assess whether domestic industries are negatively impacted by a surge in below-cost imports. As a response, duties are imposed under the multilateral World Trade Organisation (WTO) framework. The objective of such measures is to ensure fair trade and establish a level-playing field for domestic industries. Both India and China are members of the WTO, headquartered in Geneva.

Notably, India's trade dynamics with China for the fiscal year 2022-23 recorded exports to China at $15.3 billion and imports at $98.5 billion, resulting in a trade deficit of $83.2 billion.

Source: Business Standard