In a recent development of events, India imposed a strict anti-dumping duty on Chinese goods for the next five years.
India has yet again given another big shock to China by imposing anti-dumping tariffs for five years on five types of Chinese products that are being imported cheaply from China.
This strong decision of banning goods from China comes with a single aim of protecting and preserving the commercial interests of the local producers. These anti-dumping tariffs are valid and active for the next five years.
In order to implicate the seriousness of the decision, the Central Board of Indirect Taxes and Customs (CBIC) has issued a special notification in this regard. Thereby highlighting the government’s seriousness on the issue.
According to the CBIC notification, The products that are under the scope of this anti-dumping tariff include aluminum, sodium hydrosulfite (used in the dye industry), silicone sealant (used in the manufacture of solar photovoltaic modules, thermal power application), hydrofluorocarbon, composite, and component-32.
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The decision to impose such strong tariffs was taken on the recommendations of the Directorate General of Trade Remedies (DGTR), Investigation Division, Ministry of Commerce.
In separate individual investigations, DGTR concluded that the above-mentioned products were being continuously exported to the Indian Markets at a lower price than normally expected which finally resulted in rampant dumping.
The anti-dumping duty (on silicone sealant) levied under this notification will be immediately effective for the next five years from the date of the publication of the mentioned notification.
This tariff duty will be payable in Indian currency, said the CBIC. CBIC has further imposed a high tariff on the axle-vehicle component for trailers to protect the commercial interests of the domestic manufacturers from cheap Chinese imports.
CBIC has also imposed a five-year tariff on imports of calcined gypsum powder from Iran, Oman, Saudi Arabia, and the United Arab Emirates (UAE).
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