Anti-Dumping Duty on Solar Glass from China, Vietnam
By Rediff Money Desk, New Delhi Nov 07, 2024 19:05
India recommends anti-dumping duty on solar glass imports from China and Vietnam to protect domestic producers. The duty aims to ensure fair trade practices and create a level playing field.
New Delhi, Nov 7 (PTI) The commerce ministry has recommended imposition of an anti-dumping duty of up to USD 677 per tonne on imports of a certain type of solar glass from China and Vietnam, with an aim to guard domestic producers.
In its preliminary findings, the Directorate General of Trade Remedies (DGTR), a wing of the ministry, has concluded that 'Textured Toughened (Tempered) Coated and Uncoated Glass' have been exported to India at a price below the normal value, resulting in dumping.
The notification of the directorate said that the imports from these countries have caused material injury to the domestic industry.
"The authority recommends imposition of provisional anti-dumping duty on the imports," it has said.
It added that the domestic industry has made significant investments to manufacture the glass and make India self-reliant.
The impact of the duties on the downstream industry is only 2.52 per cent and is insignificant.
The recommended duty ranges between USD 565 per tonne and USD 677 per tonne.
The finance ministry takes the final decision to impose duties.
The DGTR conducted the probe following applications regarding the same from Borosil Renewables Ltd on behalf of the domestic industry.
Anti-dumping probes are conducted by countries to determine whether domestic industries have been hurt because of a surge in cheap imports. As a countermeasure, they impose these duties under the multilateral regime of the Geneva-based World Trade Organisation (WTO).
The duty is aimed at ensuring fair trading practices and creating a level-playing field for domestic producers vis-a-vis foreign producers and exporters.
India has already imposed anti-dumping duty on several products to tackle cheap imports from various countries, including China.
In its preliminary findings, the Directorate General of Trade Remedies (DGTR), a wing of the ministry, has concluded that 'Textured Toughened (Tempered) Coated and Uncoated Glass' have been exported to India at a price below the normal value, resulting in dumping.
The notification of the directorate said that the imports from these countries have caused material injury to the domestic industry.
"The authority recommends imposition of provisional anti-dumping duty on the imports," it has said.
It added that the domestic industry has made significant investments to manufacture the glass and make India self-reliant.
The impact of the duties on the downstream industry is only 2.52 per cent and is insignificant.
The recommended duty ranges between USD 565 per tonne and USD 677 per tonne.
The finance ministry takes the final decision to impose duties.
The DGTR conducted the probe following applications regarding the same from Borosil Renewables Ltd on behalf of the domestic industry.
Anti-dumping probes are conducted by countries to determine whether domestic industries have been hurt because of a surge in cheap imports. As a countermeasure, they impose these duties under the multilateral regime of the Geneva-based World Trade Organisation (WTO).
The duty is aimed at ensuring fair trading practices and creating a level-playing field for domestic producers vis-a-vis foreign producers and exporters.
India has already imposed anti-dumping duty on several products to tackle cheap imports from various countries, including China.
Source: PTI
Read More On:
DISCLAIMER - This article is from a syndicated feed. The original source is responsible for accuracy, views & content ownership. Views expressed may not reflect those of rediff.com India Limited.
You May Like To Read
TODAY'S MOST TRADED COMPANIES
- Company Name
- Price
- Volume
- Kretto Syscon
- 1.02 (+ 4.08)
- 66881006
- Shree Securities
- 0.45 (+ 12.50)
- 60278969
- Mishtann Foods L
- 9.67 ( -1.73)
- 59217815
- Vodafone Idea L
- 7.87 ( -1.99)
- 45227161
- YES Bank Ltd.
- 21.21 ( -1.71)
- 26456481
MORE NEWS
Dish TV Shareholders Reject Appointment of Ind...
Dish TV shareholders have rejected the proposal to appoint two independent directors,...
India Needs Investment in Roads, Ports, Energy:...
Veteran banker KV Kamath stresses the need for increased investment in roads, ports,...
IGI IPO: Blackstone-Backed Gem Firm Raises Rs...
International Gemmological Institute (IGI) has raised Rs 1,900 crore from anchor...