It has been found that ‘Purified Terephthalic Acid’ 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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