New Delhi: Training its gun on below-cost shipments, the Centre has imposed an anti-dumping duty of up to USD 271.37 per tonne on imports of a product, used mainly by the pharmaceutical sector, from China and Saudi Arabia.
The Finance Ministry imposed the duty on Acetone imports based on recommendations of the Directorate General of Anti-Dumping Duty (DGAD) for five years.
The duty ranges between USD 86.10 and USD 271.37 a tonne.
In its final findings, the DGAD said the product under consideration has been exported to India below its associated normal value, thus, resulting in dumping of the product.
Acetone is used in the manufacturing of bulk pharmaceuticals, agro chemicals, dye stuff, certain explosives and downstream chemicals.
The DGAD conducted an investigation into dumping, injury and causal links between dumping and injury to the domestic industry on the complaint of Hindustan Organic Chemicals. The application was supported by SI Group India.
"The domestic industry has suffered material injury in respect of the subject goods. The material injury has been caused by the dumped imports from the subject countries," the DGAD said, while recommending imposition of the duty.
Countries initiate anti-dumping probes to check if domestic industry has been hurt because of a surge in below-cost imports. As a counter measure, they impose the WTO-compliant duty.
