In a bid to protect the interests of domestic manufacturers, India has slapped anti-dumping duty on import of PTA or Purified Terephthalic acid from five countries, including China and Iran, according to a notification of Central Board of Excise and Customs (CBEC).
The import restrictive tax has been imposed for five years by the Revenue Department on recommendations of the Directorate General of Anti-Dumping and Allied Duties (DGAD) following a joint application by MCC PTA India Corp and Reliance Industries.
The imports of PTA from China, Iran, Indonesia, Malaysia and Taiwan will now attract an anti-dumping duty in the range of USD 83.08 per ton to USD 168.76 per ton, the notification said.
PTA finds extensive use in the textile industry, one of the country’s key sectors.
In December last year, the Department had imposed provisional anti-dumping duty on PTA imports after an investigation found that the chemical was being exported to India from these five countries below its normal value.
That made a case for imposing anti-dumping duty on the chemical to eliminate the losses accruing to the domestic industry following a surge in below-cost imports, the notification said adding that the steps are well within the provision of WTO regime.
Countries initiate probes and impose anti-dumping measures 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, it clarified. (SH)
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