India imposes Anti-dumping duty on five Chinese goods
- India has imposed anti-dumping duty on five Chinese products, including certain aluminium goods and some chemicals, for five years to protect local manufacturers from cheap imports from the neighbouring country.
- The duties have been imposed on certain flat-rolled products of aluminium — sodium hydrosulphite used in the dye industry, silicone sealant, used in manufacturing solar photovoltaic modules and thermal power applications, and hydrofluorocarbon (HFC) component R-32 and hydrofluorocarbon blends, both used in refrigeration.
What is Dumping
According to the World Trade Organisation (WTO), if a company exports a product at a price lower than the price it normally charges on its own home market, it is said to be “dumping” the product. This is done by companies to grab market share in other countries from the local companies.
It means that India will impose additional custom duties on the goods it feels are being dumped in India from China. This will increase the cost of Chinese goods as compared to the Indian goods. It will encourage people to buy Indian goods.
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