A new beginning has been seen in the relations between India and China today, while a major incident has also taken place in the country. PM Narendra Modi had a separate meeting with Chinese President Xi Jinping during the ongoing BRICS Summit in Russia. This meeting took place after a long time between the leaders of the two countries. Both the leaders agreed to resolve the border disputes through an accord. However, in the meantime India has imposed anti-dumping duties on some Chinese goods to protect its domestic industry.
India has imposed anti-dumping duty for five years on 5 Chinese products including frameless glass mirror and cellophane transparent film to protect domestic companies from cheap imports from China. Among these products, this duty has been imposed on isopropyl alcohol, sulfur black and thermoplastic polyurethane. These goods were being imported from China at lower prices than usual.
Additional tax will be levied for 5 years
The Central Board of Indirect Taxes and Customs (CBIC) said in five separate notifications that the duty will be imposed for a period of five years. The government has imposed duties of $82 per tonne and $217 per tonne on various Chinese companies on isopropyl alcohol for medical and industrial use. It is also used as an antiseptic and hand sanitizer.
Not only this, anti-dumping duty of up to $389 per tonne has been imposed on imports of sulfur black. It is used to dye cloth, paper and leather. Similarly, the duty on imports of thermoplastic polyurethane for automobile, medical and electronics use will now range from $0.93 per kilogram to $1.58 per kilogram.
Anti-dumping duty on cellophane transparent film used as packing material is fixed at $1.34 per kg. While a duty of $234 per tonne has been imposed on frameless glass mirrors.
The Finance Ministry will impose anti-dumping duty
India has a thorough procedure for imposition of anti-dumping duty. The DGTR, which comes under the Ministry of Commerce, first investigates dumping cases. It then sends recommendations for imposition of fees to the Ministry. The Finance Ministry then takes the final decision on levying these charges. India has previously imposed anti-dumping duties on several products to curb cheap imports from various countries, including China. China is India's second largest trade partner.
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