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Indian Govt imposes anti-dumping duty on 93 Chinese products

By indiainfoline.com , 2017-08-14 12:00:00

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Indian markets are flooded with cheap products from China directly affecting the profitability of the domestic industry. The issue got highlighted when the big players in the Indian tyre industry requested Indian government to impose anti-dumping duty on import of Chinese truck and radial tyres.

As a result, the government imposed anti-dumping duty on 93 products on Aug 9. "Anti-dumping duty is in force on 93 products concerning imports from China," said Commerce and Industry Minister Nirmala Sitharaman in a written reply to Rajya Sabha.

These 93 products belong to a broad group of chemicals and petrochemicals, products of steel and other metals, fibres and yarn, machinery items, rubber or plastic products, electric and electronic items and consumer goods, among others.

Anti-dumping duty is a protectionist stance taken by a government to cushion domestic companies from an increase in cheap price imports. When a country exports its products to other countries with a selling price below the cost price of the same product in other countries then it is called as dumping of products. This harms the profitability of domestic companies.  Anti-dumping steps are taken to ensure fair trade and provide a level-playing field to the domestic industry.

India’s imports from China in 2016-17 have marginally dipped to USD 61.28 billion as against USD 61.7 in 2015-16. Government’s move to impose anti-dumping duties on most of the Chinese products would give relief to domestic players for some time.

Source: www.indiainfoline.com

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