India has imposed anti-dumping duty on phenol imported from the US and Chinese Taipei to safeguard the interest of domestic manufacturers.
The duty, ranging from $47.29-$196.24 a tonne, has been levied for five years, a circular of the Central Board of Excise and Customs (CBEC) said.
Giving reasons for imposing anti-dumping duty, the CBEC said Phenol has been exported to India from the United States and Taipei below their normal value, thus resulting in the dumping of the product.
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It further said that the domestic industry has suffered material injury because of dumping of imports.
Phenol is a basic organic chemical used in manufacturing of antiseptics, industrial paints and cosmetics.