The Directorate General of Trade Remedies (DGTR) in its findings has concluded that imports of ‘Vitamin A Palmitate‘ have significantly increased in absolute terms.
Due to the dumping, the performance of domestic industry in terms of profit, cash profits and ROCE (Return on Capital Employed) has been adversely affected.
“The authority recommends imposition of anti-dumping duty on the imports…for a period of five years,” it said. The recommended duty ranges between USD 0.87-20.87 per kg.
The finance ministry will take the final decision to impose the duty.
Piramal Pharma Ltd had filed a petition before the DGTR for imposition of the duty on the imports. Anti-dumping probes are conducted by countries to determine whether domestic industries have been hurt because of a surge in cheap imports. As a counter measure, they impose these duties under the multilateral regime of the Geneva-based World Trade Organization (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 a separate notification, the DGTR has also recommended anti-dumping duty of up to USD 358 per tonne on ‘Insoluble Sulphur‘ exported from China and Japan for five years.
The chemical is widely used in the manufacture of tyre, shoes, and all kinds of automobile rubber parts.
Content Source: economictimes.indiatimes.com