Anti-dumping duty imposed on Chinese goods
Recommended for Secondary Grades
India imposes anti-dumping duty on Chinese goods for 5 years.
What is anti-dumping duty?
Anti-dumping duty is the tax that is imposed by domestic government on the foreign imports. The government believes that the foreign goods are priced below the market value.
Anti-dumping duty is imposed in order to protect the local manufactures from cheap imports from China. The banned products include aluminium goods and some chemicals.
Purpose of anti-dumping duty
The Directorate General of Trade Remedies(DGTR) concluded that the Chinese products have been exported at a price below the normal value in Indian markets. Therefore, they recommended the Indian government impose anti-dumping duties on Chinese goods for five years.
The anti-dumping duties are imposed in order to ensure fair trade in the Indian market and for the development of the domestic industries.
India exported goods worth $12.26 billion to China during April-September 2021. On the other hand, China imported goods worth $42.33 billion. Therefore. the imports exceeded the exports by $30.07 billion.
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