The Indian government should urgently consider imposing safeguard or anti-dumping duties on imports of two construction equipment segments - crawler excavators and tower cranes - as Chinese companies are rapidly expanding their presence in these markets in India through 'predatory' pricing supported by lower raw material costs, substantial export subsidies, and extended credit schemes, said Sorab Agarwal, executive director at Action Construction Equipment (ACE).
India has launched anti-dumping investigations into imports of thermal paper, Biaxially Oriented Polyamide (BOPA) Film, and certain antioxidants from China, following complaints from domestic manufacturers alleging material injury due to cheap imports.
The commerce ministry has recommended the continuation of anti-dumping duty on a Chinese chemical used in food and pharma industry with a view to guard domestic players from cheap imports. In a notification, the ministry's investigation arm, the Directorate General of Trade Remedies (DGTR), has said there is a "positive" evidence of likelihood of dumping of Sodium Citrate and injury to the domestic industry if the existing anti-dumping duty were to be removed.
Just days before the G-20 summit in London, the commerce ministry has recommended anti-dumping duty on cold-rolled stainless steel originating in eight countries, including China.
Calculators have been exported to India from China below the normal value
The government on Tuesday announced revoking of anti-dumping duties on certain steel products imported from countries including China, a move aimed at containing high prices of metals and promoting domestic manufacturing.
In a setback to NALCO and Hindustan Lever Ltd, a tax tribunal has quashed their plea challenging the government's decision to impose anti-dumping duty on imports of caustic soda.
The department of revenue in a notification on Wednesday said anti-dumping duty is being imposed for six months on the import of wire road of alloy or non-alloy steel from China.
India resorted to 16 final anti-dumping measures in the first six months of this year compared to eight new measures by the European Union. During the same period, Indonesia took recourse to five final anti-dumping measures, followed by four each by Argentina, China and Ukraine, three each by Brazil and South Africa, and two each by the United States, Egypt and Korea, and one by Canada.
India has strongly refuted claims by the United States Trade Representative (USTR) regarding excess capacity in its steel and textile sectors, arguing that the nation's significantly low per capita consumption of these products contradicts such assertions, according to Amitabh Kumar, Additional Secretary in the Ministry of Commerce.
With regards to continuing the anti-dumping duty on import of raw silk from China, the Commerce Ministry has ordered a sunset review investigation by the Central Silk Board in the matter. In face of the pending investigation, the duty has been extended for another year up to January 1, 2009. The silk growers in Andhra Pradesh, Karnataka, Tamil Nadu, West Bengal and Jammu and Kashmir are concerned that this exercise may lead to opening up the silk imports from China.
India has initiated a probe into imports of subsidised paperboard from China and Indonesia following complaints from domestic manufacturers. The investigation will assess the impact of these imports on the Indian paper industry and determine if anti-subsidy duties are warranted.
India has initiated a probe into imports of subsidised paperboard from China and Indonesia following complaints from domestic manufacturers. The investigation will assess the impact of these imports on the Indian paper industry and determine if anti-subsidy duties are warranted.
The United States has announced a preliminary countervailing duty of 125.87 per cent on imports of certain Indian solar goods, alleging unfair subsidisation. This move could impact India's renewable energy sector and its efforts to boost domestic solar manufacturing.
India on Wednesday castigated a draft Doha Rules text for seeking to legalise the controversial practices of "one member" - the United States - against the "overwhelming view" of all other countries in imposing anti-dumping measures.
India on Monday imposed a 12 per cent provisional safeguard duty for 200 days on five steel product categories, including hot rolled coils, sheets and plates, to protect domestic players from surge in imports. The decision follows a recommendation for the same by the Commerce Ministry's investigation arm DGTR. Last month, the DGTR suggested to impose the duty.
This review will examine the details of import of shrimp to the US between February 1, 2009 and January 31, 2010.
So far this year, the rupee has fallen by 4.2 per cent, the worst among its Asian peers.
The imposition of safeguard duty, an uptick in exports, and an increase in input cost are driving steel prices higher. The latest round of price increase took place on Friday, with some steel mills increasing hot-rolled coil (HRC) prices by ~500-750 a tonne, according to price reporting and market intelligence firm BigMint. HRC is a benchmark for flat steel.
Various industry bodies have sought immediate government intervention through the imposition of anti-dumping duties, claiming India has seen a surge in imports of Chinese goods over the past two weeks.
On August 7, the US president announced doubling tariffs on Indian goods to 50 percent for India's purchases of Russian crude oil, but gave a 21-day window to negotiate an agreement.
Trump's tariffs, falling shrimp prices, and fears of additional US levies, spark a crisis in Andhra Pradesh's politically vital aquaculture sector.
From labelling India the 'Tariff King' to slapping sweeping import duties, US President Donald Trump has steadily hardened his trade stance on India. These announcements are being seen as a pressure tactic to get New Delhi to agree to demands made by the US in the proposed Bilateral Trade Agreement (BTA).
The USA's steep 50 per cent tariffs on Indian goods entering America will severely impact exports and job creation in labour-intensive export sectors such as shrimp, apparel, leather and gems and jewellery. Exporters said that the imposition of a 25 per cent penalty on India over and above the 25 per cent tariffs move will disrupt the flow of Indian goods to its largest export market.
The bilateral trade between India and China has been growing at a healthy rate, but the trade gap remains sharply tilted in Beijing's favour. India has time and again flagged its concern over the ballooning trade deficit and the non-trade barriers faced by Indian goods in the Chinese market.
The three-month deadline for the finance ministry to take a decision on the recommendations of the commerce ministry has ended this week.
President Donald Trump of the United States has imposed 'reciprocal tariffs' on imports from various countries. With this abandonment of the policy to impose the same tariffs on imports from most countries, nearly all governments, businesses, and economists are busy examining the short- and medium-term implications of this change.
'...but I would not like to put a timeline to it'
Finance Minister Nirmala Sitharaman on Saturday said she is likely to introduce the new income tax bill, which will replace the six-decade-old I-T Act, in the Lok Sabha in the coming week.
