new Delhi. The government has today increased anti-dumping duty for 5 years on Measuring Tapes imported from China. The government has taken these steps keeping in mind the interests of domestic companies. According to the information given by the government, an import of $ 1.83 per kg of anti-dumping duty has been imposed on imports of steel pellets and their parts. At the same time, the import of fiber glass fibers and their parts has been imposed anti-dumping duty of $ 2.56 per kg.
It has been decided to impose duty on these products after the report of DGTR's investigation team. It is alleged that such cheap goods are continuously being dumped in the Indian market. That is, due to cheaper prices, different products are being supplied separately from the demand. The special thing is that if the anti-dumping duty deadline on a product ends, then immediately dumping of these products in Indian markets is started. Even if the government imposes duty on it again after some time, these products are dumped in the domestic markets between the old and new steps. In view of this, the government has announced dumping duty on lace.
The government first imposed import duty on these products on July 9, 2015 for 5 years. This deadline is ending today. Now this deadline has been extended for the next 5 years. Due to which the possibility of dumping of these products in the domestic market has been eliminated.
Anti-dumping duty is levied at a time when the country feels that due to being cheap, some goods are being filled in its markets so that there is no demand for domestic producers. This will not only cause damage to domestic products, but many times they stop production of that item. In such a situation, there is a possibility that foreign producers start making profits by raising prices gradually due to absence of domestic counterparts. However, the imposition of anti-dumping duty makes importers costly and they start buying goods from domestic producers, excluding foreign producers.
This post was published on July 8, 2020 11:36 pm
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