India took an important decision to impose anti-dumping duty on 4 major products coming from China!
The Government of India has imposed anti-dumping duty on four major products imported from China. This step has been taken to protect and safeguard India’s domestic industries from cheap imports. The products on which this duty has been imposed are: Aluminum Foil, Vacuum Flask, Soft Ferrite Cores and Trichloro Isocyanuric Acid. These products were being imported to India from China at extremely cheap prices, which caused Indian industries to have difficulty competing.
What is anti-dumping duty?
Anti-dumping duty is a type of duty imposed on products that are exported to a country at extremely cheap prices so that the product does not harm domestic industries. This is called ‘dumping’, and when a country sends its products to other countries at a very low price, it can be dangerous for the local producers of other countries. To deal with this situation, the government imposes anti-dumping duty, so that domestic industries can get protection and remain in healthy competition.
Step of Government of India
This step of the Government of India has been taken to protect the domestic industries of the country and maintain employment opportunities. This duty will be effective for five years and under this, various types of anti-dumping duties will be imposed on Chinese products. For example, a duty of up to $ 873 per tonne has been imposed on aluminium foil, while a duty of $ 276 to $ 986 per tonne has been imposed on trichloro isocyanuric acid.
On which product will the duty be applicable?
- Aluminium Foil: Temporary anti-dumping duty will be imposed on cheap aluminium foil being imported from China.
- Vacuum Flasks: These products were also being imported to India from China at extremely cheap prices.
- Soft Ferrite Cores: The price of this product coming from China was also becoming competitively challenging for Indian manufacturers.
- Trichloro Isocyanuric Acid: Anti-dumping duty has also been imposed on this chemical.
Effect of this move
This move will help protect India’s domestic industries from foreign cheap products and provide them with an opportunity to maintain their competitiveness. Apart from this, this move will create employment opportunities for Indian workers and Indian companies will get an opportunity to improve their production cost and quality.
This move of the government is to protect the interests of domestic producers, create employment opportunities and maintain the economic stability of India. This decision will protect Indian industries from losses caused by extremely cheap imports coming from China and other countries, which will improve their business and production.
Need for balance in global trade
With this step, it is also clear that the Government of India is committed to maintaining fairness in global trade. When a country exports products at extremely cheap prices, it can become an economic challenge for domestic producers of other countries. Such steps are necessary to maintain the global trade balance, which can make economic stability and development possible in all countries.
The Government of India has made it clear through this step that it will continue to take such necessary steps to protect the interests of Indian industries in the future as well and will make every effort to keep the trade policy fair and impartial.
What is anti-dumping duty?
Anti-dumping duty is a type of duty imposed on pesticides that are heavily used in any country so that domestic equipment is not damaged. This is called ‘dumping’, and this duty is considered to be imposed to prohibit it.
What is the purpose of anti-dumping duty?
Its main purpose is to protect Indian domestic competitors from competitors and maintain their cost earnings. Through this, India can protect its company from the damage caused by foreign-friendly products.
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