Shrimp exporters see a major breakthrough in the US anti-dumping duty case, with a host of countries, including Brazil, China, Vietnam, Japan and South Korea, strongly supporting India at the ongoing World Trade Organization (WTO) panel hearing.
A string of measures includes specific provisions in rules governing anti-dumping, safeguards, and basic Customs duties.
Worried by a spike in Chinese imports, the Indian Steel Association (ISA) plans to take up the matter with the government and seek measures to fix "trade distortions". Alok Sahay, secretary general of the group that represents the country's steel producers, said systemic changes were needed. "In order to take any trade measure, it takes a minimum of 15 months' time, due to prevalence of lesser duty rule in India, making India an easy target. "We are going to write to the government on this," he said.
India stares at the risk of an influx of Chinese products as US tariffs on a range of Chinese goods, including solar panels, electric vehicles, lithium-ion batteries, syringes, and steel, are set to take effect from September 27. With higher tariffs reducing China's access to the US market, there is concern that China may divert its exports to other markets, including India, which could lead to potential dumping of goods. This situation could challenge Indian industries, particularly in sectors where competition with Chinese products is already fierce.
With the CTV market likely to cross 15 million sets this year, the gap between supply and demand is likely to widen. According to CEAMA, the import duty on picture tubes accounts for around 45 per cent of the final product.
Government has initiated an anti-dumping investigation against imports of Titanium Dioxide from China.
The European Union said on Friday that it would abide by the World Trade Organisation ruling that has favoured India in the bed linen dispute.\n\n\n\n
March 31 marked 10 years since the Modi government introduced its first Foreign Trade Policy (FTP 2015-20) that lasted for 8 years before the current FTP 2023 came in. Here is a brief assessment. In 2015, the government said that it aims to increase India's exports of merchandise and services from $465.9 billion in 2013-14 to approximately $900 billion by 2019-20 and to raise India's share in world exports from 2 per cent to 3.5 per cent.
Concerned over an increased level of protectionism, the World Bank found India to be the most active nation in initiating anti-dumping measures against imports affecting 19 countries.
The "weaponisation" of economic activity - through tariffs and sanctions - is now a reality, with countries leveraging these tools strategically, External Affairs Minister S Jaishankar said at the Raisina Dialogue recently.
Hindustan Inks And Resins said the US International Trade Commission has determined that there is no reasonable indication that the US industry is materially injured on the basis of imports by its subsidiary, Micro Inks.
Last week, India lodged a complaint against the EU's measures on PET at the WTO, saying Brussels allegedly violated core provisions of the Agreement on anti-dumping as well as subsidies and countervailing measures. Under the WTO's anti-dumping and anti-subsidy rules, the EU is required to terminate its measures after five years. But Brussels continued to impose them on the ground that the Indian exports could harm the European producers.
The United States has terminated subsidy and anti-dumping investigations on the US imports of plyethylene terphthalate resin from India, Indonesia and Thailand.
The government has set up an inter-ministerial group to monitor a possible surge in imports from countries like China, Vietnam and Thailand, fearing a surge in inbound shipments following the imposition of high reciprocal tariffs by the US on these countries, sources said. The product categories that may see an upsurge in diversion of imports from the US to India include consumer goods, electronics, chemicals and steel.
In a major victory for India, World Trade Organisation on Wednesday reversed its earlier compliance ruling on Indian bed linen dispute with the European Union.
India can either impose anti-dumping duties or safeguard duties to tackle import surges.
Steel companies are witnessing margin pressures in Q2FY25 and this may persist until China sees growth recovery.
Private sector engineering major Larsen & Toubro has said that China is systematically killing Indian manufacturing sector and sought 25 per cent anti-dumping duty on Chinese goods.
From real estate to metals, what Sitharaman's Budget has in store.
To add to the woes of these exporters, the European Union -- the largest export market for Indian marine products - has also threatened to ban imports from India in the absence of catch certificates. These two developments coupled with the US move to maintain the 0.76 per cent anti-dumping duty on shrimp imports from India have put under cloud the country's target of exporting marine products worth Rs 10,000 crore (Rs 100 billion) this year.
Notwithstanding the growing political ties, China has accused India, its biggest trade partner in South Asia, of carrying out restrictive trade practices, including technical barriers, opaque and complicated regulations
A draft circular issued by WTO Committee on Rules Chair and Uruguayan Ambassador Guillermo Valles Galmes states that the process of Zeroing -- used by the US to calculate the dumping margin, which is the difference between the local price in the exporting country and the export price -- could be allowed in certain circumstances.
Does intervention by central banks in the currency markets, with a view to keeping the home currency weak and help the exports, constitute a subsidy? Some US legislators think so.
Engineering and construction major Larsen & Toubro (L&T) reported a 25 per cent rise in net profit attributable to the owners of the company for the January-March quarter of 2024-25, owing to higher revenues and an exceptional gain. For the quarter under review, L&T posted a consolidated net profit of Rs 5,497.3 crore, while revenue rose 10.9 per cent year-on-year (Y-o-Y) to Rs 74,392.28 crore.
'The steel industry expects the government to decide on safeguard measures from dumping post-Budget'
India largely exports block frozen shrimp to Vietnam for reprocessing and forward shipment to its customer countries like China, EU, Japan and USA.
Spiraling steel prices led the government to cut customs duty by 2.5-5.5 per cent on a range of products from semi-finished to flat and long products for the benefit of MSMEs, that have been at the receiving end.
In a major trade victory for India and several other countries, the World Trade Organisation has held as violation of global trade rules a controversial USlaw allowing American companies to collect more than $470 million
India asks WTO to reverse findings on bed linen
Bed linen issue: India files appeal in WTO
