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The commerce ministry has recommended imposition of an anti-dumping duty of up to $707 per tonne on imports of PVC paste resin, used to make artificial leather and other technical textiles' products, from six countries, including China, for five years, with an aim to guard domestic producers.
In its findings, the Directorate General of Trade Remedies (DGTR), a wing of the ministry, has concluded that 'Poly Vinyl Chloride Paste Resin' has been exported to India at a price below the normal value from certain players of the six nations -- China, Korea, Malaysia, Norway, Taiwan, and Thailand.
The move has resulted in dumping of the product into Indian markets.
The notification of the directorate said imports from these countries have caused material injury to the domestic industry.
"The authority recommends imposition of anti-dumping duty on the imports... so as to remove the injurious effects of the dumped imports on the domestic industry," it has said.
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The recommended duty ranges between $89 per tonne and $707 per tonne. The finance ministry takes the final decision to impose duties.
The DGTR conducted the probe following an application regarding the same from Chemplast Sanmar Ltd.
Anti-dumping probes are conducted by countries to determine whether domestic industries have been hurt because of a surge in cheap imports. As a countermeasure, they impose these duties under the multilateral regime of the Geneva-based World Trade Organisation (WTO).
The duty is aimed at ensuring fair trading practices and creating a level-playing field for domestic producers vis-a-vis foreign producers and exporters.
India has already imposed anti-dumping duty on several products to tackle cheap imports from various countries, including China.
(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)
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