Anti-dumping duty imposed on import of chemical from US, China
NEW DELHI: Anti-dumping duty of $0.277- 0.404 per kilogram has been imposed on a compound, used in the pharmaceutical industry, imported from the us and China to protect domestic makers from cheap shipments.
The Central Board of Excise and Customs ( CBEC ) has imposed definitive anti-dumping on import of Methyl Acetoacetate from the two countries for five years.
The duty has been slapped following recommendation by the Directorate General of Anti-dumping and Allied Duties ( DGAD ).
The DGAD, after an investigation into the imports, said in its final findings that the chemical has been exported to India from the two countries below normal values and the domestic industry has suffered material injury.
"The material injury has been caused by the dumped imports of subject goods from the subject countries," it said, while recommending the levy on imports of the chemical "in order to remove injury to the domestic industry."
In January last year, DGAD had initiated a probe to ascertain if the chemical was being dumped in the country. The probe followed a petition by Laxmi Organic Industries.
Methyl Acetoacetate is used in industries like pharmaceuticals, agrochemicals and polymers, among others.
WTO member countries are allowed to apply anti-dumping measures on imports of a product if the exporting company ships the product at a price lower than the price it normally charges in its home market and the dumped imports cause or threaten to cause injury to the domestic industry.
Source: - Economictimes.indiatimes.com