New Delhi [India], June 27 (ANI): India has imposed anti-dumping duties on imports of Plastic Processing Machines from China and Taiwan, aimed at safeguarding the domestic industry.
According to a gazette notification, the Ministry of Finance found that such items were exported to India from the two countries at dumped prices.
It also found that the domestic industry has suffered a material injury due to dumped imports from those countries.
It added that “material injury” has been caused to the domestic industry by the dumped imports of such goods from China and Taiwan.
Against that backdrop, the finance ministry “recommended imposition of an anti-dumping duty on the imports of subject goods, originating in, or exported from the subject countries and imported into India, in order to remove injury to the domestic industry.”
Based on the country of origin, country of export, and producer, the anti-dumping duties range between 27 per cent and 63 per cent of CIF value of such goods.
The anti-dumping duty imposed shall be levied for a period of five years (unless revoked, superseded or amended earlier) from the date of publication of the notification.
The anti-dumping duties shall be payable in Indian currency.
Simply put, anti-dumping duties are taxes imposed on imported goods to compensate for the difference between their export price and their normal value, if dumping causes injury to producers of competing products in the importing country. (ANI)
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