India has imposed anti-dumping obligation on shipments of a substance utilized in chemical and pharmaceutical industries for its alleged dumping by the exporters, stated an official order. The income division stated within the order that such dumping has been discovered to have retarded the home business.
The order stated that the product has been exported to India at a value under regular worth, thus leading to dumping.
Also, non-imposition of the anti-dumping obligation will adversely and materially affect indigenous manufacturing, whereas imposition of the anti-dumping obligation won’t materially affect the customers or the downstream business or the general public at massive, the ministry stated.
The anti-dumping obligation imposed shall be levied for a interval of 5 years (until revoked, outmoded or amended earlier) and shall be payable in Indian forex, the order stated.