India extends anti-dumping duty on carbon black imports from China, Russia till Dec 31, 2020

Economy


India extended the anti-dumping duty on imports of carbon black used in rubber applications from China and Russia till December 31, 2020, the department of revenue said in a notification on Monday.

The duty was first imposed in November 2015 after the Directorate General of Trade Remedies (DGTR) had found that the imports were impairing local industry.

“Notwithstanding anything contained in paragraph 2, the anti-dumping duty imposed under this notification shall remain in force up to and inclusive of the 31st December, 2020, unless revoked, superseded or amended earlier,” the revenue department’s notification said, citing the November 2015 order it had issued at that time.

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The department added that the designated authority, in this case the DGTR, had sought for continuation of the anti-dumping duty after conducting a review of the same which was initiated in May this year.

“The designated authority has initiated review in the matter of continuation of anti-dumping duty on imports of Carbon Black used in rubber applications originating in or exported from People‟s Republic of China and Russia imposed 18th November, 2015, and has requested for extension of the said anti-dumping duty in terms of sub-section (5) of section 9A of the Customs Tariff Act,” the notification added.

In international trade parlance, dumping happens when a country or a firm exports an item at a price lower than the price of that product in its domestic market.

Dumping impacts the price of the product in the importing country, hitting margins and profits of manufacturing firms.

According to global trade norms, a country is allowed to impose tariffs on such dumped products to provide a level-playing field to domestic manufacturers.The duty is imposed only after a thorough investigation by a quasi-judicial body, such as DGTR, in India.

Imposition of anti-dumping duty is permissible under the World Trade Organization (WTO) regime. India and Vietnam are members of the Geneva-based organisation, which deals with global trade norms.

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.



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