India Slams 4 Countries with Anti-Dumping Duty on Phthalic Anhydride
- 11-Aug-2021 6:00 PM
- Journalist: Jai Sen
In a move against dumping practices by several countries in terms of imports of Phthalic Anhydride, India took disciplinary action by imposing anti-dumping duties on the four origin countries which include China, Indonesia, South Korea, and Thailand. The duties include anti-dumping duty (ADD) varies from USD 40.08 per tonne to USD 140.17 per tonne which would be in effect from 9th August on Phthalic Anhydride imports from the above countries for a long period of five years.
There were several complaints against dumping practices by these countries. As the investigations proceeded and the claims were found to be correct, the department of revenue, Ministry of Finance decided to impose the ADDs to protect the domestic industry which was suffering from huge financial losses due to the dumped imports of the chemical from the exporting countries.
India’s Directorate general of Trade Remedies had inquired earlier regarding this issue and recommended ADD on PA from the above four origin countries. The enquiry came after the domestic producers of Phthalic Anhydride including LG Petrochemicals, Thirumalai Chemicals, and SI Group India filed the petition to initiate probe on PA imports from these origins.