India to Investigate the Continuation of Anti-Dumping Duty on 2-Ethyl Hexanol Imports from Five Countries
The investigation arm of commerce and industry ministry of India, has begun a full-fledged investigation for the continuation of anti-dumping duty on 2-Ethyl Hexanol from European Union, Korea RP, Taiwan, Indonesia, and United States of America, under the plea from its key manufacturer, The Andhra Petrochemicals Limited. The duration of investigation is marked between April 2019 to March 2020 whereas the damage will be covered from FY 17-FY 20. Present anti-dumping duty was imposed 4 years back on March 29,2016 with due expiration date in the next year on March 28,2021. DGTR, the Directorate General of Trade Remedies, revealed that they are the ones who commend these duties, but the prime power of implementation is in the hands of finance ministry. As per the investigation till date, the authorities concluded that the Indian manufacturers have faced drastic material injury on the back of high volume of imports leading to slump in their production, price depression and narrowed profit margins. Also, the evidence provided by Indian company clearly highlights the negative outcomes of the annexation of the anti-dumping duty in the future. However, the official approval for continuation of anti dumping duty on the product will come after the thorough investigation.