India has imposed anti-dumping duties on 99 Chinese imports as on 29 January (2019) to protect India’s domestic industry from heavily subsidised products originating in China, reports Business Standard (BS).
"As on 28.01.2019, anti-dumping duty is in force on 99 products imported from China. Chinese products on which the duty was imposed include chemicals and petrochemicals, fibres and yarn, machinery items, pharmaceutical, rubber and steel items,” said Minister of State for Commerce and Industry C R Chaudhary in a written reply to Lok Sabha.
A country levies anti-dumping duties against imports if the government is of the opinion that goods are priced below fair market value.
It is argued that the Chinese government provides massive subsidies to Chinese manufacturers, which helps keep the prices of products artificially low. Thus, these low-priced products, when they enter India, out-compete Indian domestic industry, which does not receive such subsidies.
India has a vast trade deficit with China and the same increased to $ 63.12 billion in 2017-18 from $ 51.11 billion in the previous financial year
Tit For Tat
It was reported on 23 January that Ortho-dichlorobenzene (ODCB), a chemical imported from India will attract anti-dumping duties from China. The duties will be collected at rates ranging from 31.9 per cent to 70.4 per cent for five years.
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