Union Government has imposed anti-dumping duty of up to 44.7 per cent on import of plastic-processing machines from Chinese Taipei, Malaysia, Philippines and Vietnam for five years.
The anti-dumping duty will be levied on imports of all kinds of plastic-processing or injection-moulding machines, also known as injection presses.
The move is aimed at protecting the domestic industry from cheap in-bound shipments from these 4 countries.
Background
The Directorate General of Anti-dumping and Allied Duties (DGAD) during its investigation had found that the cheap in-bound shipments of ‘Plastic Processing Machines or Injection Moulding Machines’ from these countries at dumped prices are hampering performance of the domestic industries.
What are Anti-dumping measures?
These are taken to ensure fair trade and provide a level-playing field to the domestic industry.
They are not a measure to restrict imports or cause an unjustified increase in cost of products.
They are counter import measures used by a country to protect its domestic producers and market from below-cost (cheap) imports under the multilateral World Trade Organisation (WTO) regime.
In India, anti-dumping duty is recommended by the DGAD under the aegis of Union Ministry of Commerce, while the Union Finance Ministry imposes it.
Current Affairs 16th March, 2016 Highlights of Union Budget 2016-17 Highlights of Railway Budget 2016
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