It has been found that â€˜Purified Terephthalic Acidâ€™ has been exported to India from China, Iran, Indonesia, Malaysia and Taiwan below its normal value which has resulted in dumping, according to the Directorate General of Anti-Dumping and Allied Duties (DGAD) , under the ministry, in its finding. After, MCC PTA India Corp and Reliance Industries Ltd (RIL) jointly filed an application seeking anti-dumping investigations.
To protect domestic players, India likely to impose anti-dumping duty of up to $168.76 per tonne on imports of a chemical, mainly used in textile and packaging industry, from five countries.
While DGAD recommends the duty, the Finance Ministry imposes it. Anti-dumping steps are taken to ensure fair trade and provide a level-playing field to the domestic industry.
Countries initiate anti-dumping probes to determine if the domestic industry has been hurt by a surge in below-cost imports. To counter it they impose duties under the multi-lateral WTO regime.
The DGAD said that it considers it necessary to impose the duty on the imports. It has recommended an anti-dumping duty in the range of $83.08 per tonne to $168.76 per tonne on the imports.
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