India is likely to impose an anti-dumping duty of up to $8.79 per kg on imports of a chemical, mainly used in pharma industry from China. If duty is imposed then it will help in protecting domestic manufacturers of this chemical from China.
In its preliminary findings, the Directorate General of Anti-dumping and Allied Duties (DGAD) has concluded that the chemical was exported by firms in China at lower prices than normal values in India and because of this the domestic industry has been materially retarded.
Read also: Chinese diplomat wants India to join BRI for mutual interest
The DGAD recommends imposition the provisional anti-dumping duty to remove the injury to the domestic industry. The suggested duty is in range of $0.03 per kg to $8.79 per kg on the imports. The DGAD in a notification said the imports of the acid were 427 tonnes in 2013-14 that was increased in 2015-16 to 583 tonnes.
O Acid or Ofloxacin Acid is used in the production of Ofloxacin which is used to treat certain infections like bronchitis, pneumonia and infections of the bladder, skin and urinary tract, prostate and reproductive organs.
Read also: India thrashes China with export growth difference of 5%
It was recently recommended to impose anti-dumping duty on a certain type of glass from Iran and also Chinese aluminium radiators. Countries initiate the anti-dumping probe to determine if the flooding of below-cost import has hurt the domestic industry. They come up with duties under the multilateral WTO regime as a counter measure.
Steps like anti-dumping duty are taken to ensure fair trade and provide a level-playing field to the domestic industry. The duties are not a measure to restrict the import or cause an unjustified increase in the cost of products.
Share
The post Anti-dumping Duty to be imposed on ‘O Acid’ imported from China appeared first on Mcr World.
