Search Result for : Cheap Imports

The Dollar Business Bureau The government is likely to increase the duty on the import of sugar to 60% from the present 40% in order to control the cheap imports and to maintain local prices.  Any decline in the domestic prices of sugar will impact the millers' capacity to pay sugarcane dues to farmers. In the wake of lower sugar production expected during the current marketing year of 2016-17, the government, in April, had permitted 5 lakh tonnes of raw sugar import at zero duty in order to boost local supply.  “We are monitoring global price movement closely. Prices in the international market are falling and some traders are keen to import even at high customs duty. So, we are considering raising the import duty,” ...

The Dollar Business BureauIndian fishnet manufacturing industry has urged the Indian government to initiate anti-dumping investigation and impose an anti-dumping duty on imports of fishnet or fishing net from Bangladesh and China.Indian Fishnet Manufacturers Association, on the behalf of the fishnet producers, filed a petition before the Directorate General of Foreign Trade (DGFT) to identify, assess and collect anti-dumping duty on dumping of fishnets. Acting upon their requests, the authorities have initiated an investigation on whether the cheap imports from Bangladesh and China have caused a significant injury to the domestic industry.The authorities have assured the industry that in case of dumping, the government would initiate an anti-dumping duty, which would be adequate to remove the ‘injury’ to the domestic ...

The Dollar Business Bureau  Directorate of Anti-Dumping & Allied Duties (DGAD) has recommended imposition of anti-dumping duty on the imports of amoxycillin from China PR in order to remove the impact of injury caused to domestic industry due to cheap imports. Amoxycillin, also known as Amoxicillin Trihydrate, is a semisynthetic antibiotic, an analog of ampicillin, with a broad spectrum of bactericidal activity against many Gram-positive and Gram-negative microorganisms and is used to reduce the development of drug-resistant bacteria. The DGAD has found sufficient evidence of dumping of amoxycillin from China and recommended imposition of anti-dumping duty equal to the lesser of the margin of dumping and margin of injury so determined, so as to remove the injurious effects of the dumped imports on the domestic industry. “After examining ...

PTI China on Friday dismissed as "unnecessary" the concerns of Pakistani businesses over the possibility of local markets getting flooded with cheap Chinese goods due to tax exemption under the CPEC project, marginalising local industries. "As for the specifics, I am not aware of them, but I think your concerns are unnecessary," Chinese foreign ministry spokesperson Hua Chunying said. Pakistani companies have expressed concerns over Chinese suppliers, who will get heavy tax exemptions, may flood local markets with cheap Chinese goods when the trade route under the USD 46 billion China-Pakistan Economic Corridor opens. Playing down such concerns, Hua said the CPEC, part of Beijing's Silk Road project, is a new cooperation framework set by China and Pakistan ...

The Dollar Business Bureau India has started a probe against the dumping from China for a chemical that is used in glass and other sectors to safeguard the domestic manufacturers from cheap imports. The Directorate of Anti-Dumping & Allied Duties (DGAD) has found enough evidence of dumping from China for the chemical. “The authority hereby initiates an investigation into the alleged dumping, and consequent injury to the domestic industry,” it said in a notification. The DGAD, in its probe, will determine the degree, existence and effect of the alleged dumping of the chemical and after that recommend the quantum of the duty to be levied, which would be sufficient to remove the injury caused to the local industry. The investigation period is 15 months, i.e. ...

The Dollar Business Bureau China has expressed concerns over India launching an anti-dumping investigation against Chinese steel products.  The Chinese Ministry of Commerce said it seeks a fair and transparent investigation in accordance with WTO rules. The state-run Xinhua news agency, citing the Chinese Ministry of Commerce, said China is highly concerned by Indian trade remedy measures against Chinese steel products. The world’s largest steel manufacturer said excess steel output is a global challenge, and countries should face it up, rather than coming up with up harsh trade-remedy measures. It underlined that the two countries, India and China, should properly handle trade frictions. Though not for the first time, India had once again announced an anti-dumping probe in April into hot-rolled steel coils shipped ...

The industry has also demanded a hike in the import duty on palm oil to 45% from the current 12.5% and sought for a budget of Rs. 10,000 crore for the sector The Dollar Business Bureau Ahead of the Budget for the coming financial year, the palm oil industry has asked the government to formulate a separate import policy to ensure a level-playing field for domestic palm growers and oil producers who have been battling cheap imports of edible oil triggered by the global demand slump. “There is a need for a separate palm oil import policy. This will ensure that import duty of palm oil can be increased to a level sustainable to the farmer/ industry. This will ...

The Dollar Business Bureau The government has increased the import duty on ghee, butter and butter oil by 10%, giving relief to the domestic industry which has been facing challenges from overseas suppliers. According to a notification issued by the Finance Ministry earlier this week, the import duty on ghee butter and butter oil has been increased from 30% to 40% and the hike will be valid till March-end next year. The decision came after Indian dairy industry and producers of milk products had expressed concern over the threat of cheap imports due to falling prices of these items in the international market. The Central government was “satisfied that it is necessary in the public interest so to do”, the notification ...