India has recently enforced anti-dumping duties on three Chinese products—wheel loaders, gypsum tiles, and industrial laser machinery—for a duration of five years. The objective is to shield local manufacturers from the adverse effects of low-cost imports originating from China.
This decision aligns with the recommendations made by the Directorate General of Trade Remedies (DGTR), a branch of the commerce ministry responsible for investigations.
Following separate probes conducted by the DGTR, it was determined that these products were being exported to India at prices below their normal value, resulting in dumping and causing significant harm to the domestic industry.
As per notifications from the Central Board of Indirect Taxes and Customs (CBIC) issued last month, the duties are applicable to gypsum board/tiles with lamination on at least one side. Similar duties have been imposed on industrial laser machines, whether fully assembled, Semi Knocked Down (SKD), or Completely Knocked Down (CKD) forms, used for cutting, marking, or welding operations. Wheel loaders imported as Completely Built Units (CBU) or SKD are also subject to these anti-dumping duties.
The notifications state that these duties will be in effect for five years unless revoked, superseded, or amended.
Additionally, such duties have been applied to gypsum tiles produced by certain companies in Oman. Previously, anti-dumping duties were imposed on toughened glass for home appliances and specific types of flax yarn from China.
The process involves the DGTR recommending the duty, while the finance ministry executes it. Anti-dumping probes are initiated by countries to ascertain if a surge in below-cost imports has negatively impacted the domestic industry. In response, duties are imposed under the multilateral World Trade Organization (WTO) regime.
The implementation of anti-dumping measures is aimed at ensuring fair trade and creating a level playing field for the domestic industry. Both India and China are members of the World Trade Organization based in Geneva. As of the 2022-23 period, India's exports to China amounted to USD 15.3 billion, while imports reached USD 98.5 billion, resulting in a trade deficit of USD 83.2 billion.
Nayanthara achieved a significant milestone with her 75th film, "Annapoorani." Directed by Nilesh Krishnaa, the movie features Nayanthara, Jai, and Sathyaraj in pivotal roles, hitting theaters on December 1, 2023. Despite the star-studded cast, the film received a lukewarm response, grossing Rs 5 crore at the box office.
0 Comments