India imposes anti-dumping duty on 5 Chinese goods
India has imposed anti-dumping duty on five Chinese goods including Soft Ferrite Cores, certain thickness of vacuum insulated flask, aluminium foil, Trichloro Isocyanuric Acid, and Poly Vinyl Chloride Paste Resin to guard domestic players from cheap imports. These duties were imposed on these products as the products were exported to India from China at below normal prices. Department of Revenue has said that the duty imposed shall be levied for a period of five years on imports of Soft Ferrite Cores, vacuum insulated flask, and Trichloro Isocyanuric Acid. The anti-dumping duty of up to $873 per tonne was imposed provisionally on aluminium foil for six months.
The government has imposed the duty in the range of $276 per tonne to $986 per tonne on imports of the acid (a water treatment chemical) from China and Japan, while up to 35 per cent duty was imposed on CIF (cost, insurance freight) value of Soft Ferrite Cores (used in electric vehicles, chargers, and telecom devices). Similarly on vacuum insulated flask, $1,732 per tonne anti-dumping duty was levied. The duty on Poly Vinyl Chloride Paste Resin, ranging from $89 per tonne to $707 per tonne was imposed on the imports from China, Korea RP, Malaysia, Norway, Taiwan and Thailand for five years.
The anti-dumping probes are conducted by countries to determine whether domestic industries have been hurt because of a surge in cheap imports. As a countermeasure, they impose these duties under the multilateral regime of Geneva-based World Trade Organization (WTO). 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. India has earlier already imposed anti-dumping duty on several products to tackle cheap imports from various countries, including China. China is the second largest trading partner of India. The country has time and again flagged serious concerns over the widening trade deficit with the neighbouring country, which stood at $85 billion in 2023-24.
