File Photo: Workers are sitting on a ship carrying containers at the port of Mundra, Gujarat, April 1, 2014. (Reuters)
The obligations imposed range from $ 273 per ton to $ 326 per ton. Glass has major uses in the construction, refrigeration, mirror and automotive industries.
- PTI New Delhi
- Last updated: November 12, 2020, 15:45 IST
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India imposes a five-year anti-dumping tariff on clear float glass used in the automobile and refrigeration industries from Malaysia with the aim of protecting its domestic industry from cheap imports. This obligation was imposed after a recommendation was issued by the Directorate General of Trade and Relief (DGTR), the Department of Commerce’s research arm.
“The anti-dumping obligations imposed under this notice are valid for five years (unless revoked, replaced or previously amended) and shall be paid in Indian currency,” the Revenue Service said. Said in the notice. While the DGTR recommends obligations, the Treasury will make a final call to impose the same.
The obligations imposed range from $ 273 per ton to $ 326 per ton. Glass has major uses in the construction, refrigeration, mirror and automotive industries. Excellent quality glass.
Malaysia is India’s major trading partner in Southeast Asia. In international trade terminology, dumping occurs when a country or company exports an item in the domestic market at a price lower than the price of its product.
Dumping affects the price of the product in the exporting country, damaging the profits and profits of the manufacturer. According to world trade norms, countries are allowed to impose tariffs on such dumped products to provide domestic manufacturers with a fair playing field. This obligation is only imposed after a thorough investigation by a quasi-judiciary agency such as DGTR in India.
In that investigation, the board must conclude whether the dumped product is affecting the domestic industry. This obligation is intended to ensure fair trading practices and to create a fair competition for domestic producers against foreign producers and exporters.
India imposes anti-dumping tariffs on imports of clear float glass from Malaysia
Source link India imposes anti-dumping tariffs on imports of clear float glass from Malaysia