In separate notifications, the Central Board of Indirect Taxes and Customs, Department of Revenue, said that the duty imposed “shall be levied for a period of five years” on imports of Soft Ferrite Cores, vacuum insulated flask, and Trichloro Isocyanuric Acid.
The anti-dumping duty of up to USD 873 per tonne was imposed provisionally on aluminium foil for six months.
The government has imposed the duty in the range of USD 276 per tonne to USD USD 986 per tonne on imports of the acid (a water treatment chemical) from China and Japan.
On imports of Soft Ferrite Cores (used in electric vehicles, chargers, and telecom devices), up to 35 per cent duty was imposed on CIF (cost, insurance freight) value.
Similarly on vacuum insulated flask, USD 1,732 per tonne anti-dumping duty was levied. These duties are imposed after recommendations for the same were made by the commerce ministry’s investigation arm DGTR (directorate general of trade remedies). 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 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 earlier already imposed anti-dumping duty on several products to tackle cheap imports from various countries, including China.
India and China both are members of the WTO. China is the second largest trading partner of India. The country has time and again flagged serious concerns over the widening trade deficit with the neighbouring country, which stood at USD 85 billion in 2023-24.
Content Source: economictimes.indiatimes.com