India imposed anti-dumping duty on these 4 products...
India has decided to impose anti-dumping duty on four Chinese products. These include aluminum foil, vacuum flask, soft ferrite core and trichloro isocyanuric acid. All these goods were exported from china to india at a lower price than normal. The government has taken this step to protect domestic companies from cheap imports. This duty has been imposed for five years. This decision was taken after the recommendation of DGTR, the investigation unit of the Ministry of Commerce. The Central Board of Indirect Taxes and Customs, Department of Revenue has given this information in separate notifications.
Temporary duty on aluminum foil
The government has imposed anti-dumping duty on aluminum foil imported from china, which is temporary. It has been imposed for six months. Anti-dumping duty of up to $ 873 per tonne has been imposed on aluminum foil. Along with this, the government has also imposed a duty of $276 per ton to $986 per ton on the import of acid from china and Japan. Let us tell you that there is import-export business between all the countries of the world. From time to time the government takes such decisions to balance the trade. For example, Donald Trump's government in America is going to impose reciprocal tariff.
What is anti-dumping duty?
When a country exports its product to another country at a low price, it is dumped. Now it affects the products made in the country where dumping is being done. This reduces the price of the exported product in the domestic market and it affects the sales of domestic brands.
This is because domestic companies will not be able to sell their products at such a price due to higher cost compared to cheap foreign products. This will reduce their demand. Due to this many companies close down. Many people lose their jobs. The government imposes anti-dumping duty keeping in mind the interests of domestic businesses and the country's economy.
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