DGTR recommends anti-dumping duty on certain Chinese cranes for 5 yrs

[ad_1] The commerce ministry's investigation arm DGTR has recommended the imposition of anti-dumping duty for five years on import of certain Chinese cranes, with an aim to guard domestic players from cheap inbound shipments. In its final findings, the Directorate General of Trade Remedies (DGTR) has concluded that the product has been exported to India at a price below the normal value, resulting in dumping. "Definitive anti-dumping duties...is recommended to be imposed...for a period of five years," the DGTR has said in a notification. Considering the nature of the product, the authority considers that it would be appropriate to recommend an anti-dumping duty as a percentage of the CIF (cost, insurance, freight) value of the import price of the item.The cranes are used for loading/ unloading, shifting of material, at project sites like infrastructure projects, roads and bridges, refineries, and cement plants.Live Events While the DGTR recommends the duty, the finance ministry takes the final decision to impose the same. In two separate notifications, the DGTR said it has initiated alleged dumping probes into imports of copper data cables and ethambutol hydrochloride, imported from China. 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 Organisation (WTO). Both India and China are members of multilateral organisations that deal 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.India has already imposed anti-dumping duty on several products to tackle cheap imports from various countries, including China.Add as a Reliable and Trusted News Source India has a trade deficit of about USD 100 billion with China. [ad_2] Source link Follow Us: https://facebook.com/gagab2b https://youtube.com/gagab2b https://gagab2b.com https://gagab2b.com/import-export-news/import-export-india-news/dgtr-recommends-anti-dumping-duty-on-certain-chinese-cranes-for-5-yrs/?feed_id=3306&_unique_id=68e1d2c634715

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