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India probes dumping of chemical by 5 countries

Atul Ltd has filed an application before the commerce ministry's Directorate General of Antidumping and Allied Duties (DGAD) for imposition of anti-dumping duty on imports of certain "Epoxy Resins" exported from these five countries.

April 20, 2018 / 03:20 PM IST
Mangalam Organics has gained 1324 percent in the last 5 years. As of June 10, 2015, the share price was Rs 23.15 per share and now the current share price is Rs 329.75 with a market cap of Rs 282 crore.

Mangalam Organics has gained 1324 percent in the last 5 years. As of June 10, 2015, the share price was Rs 23.15 per share and now the current share price is Rs 329.75 with a market cap of Rs 282 crore.

India has started investigations into alleged dumping of a chemical, used mainly in the paint industry, from China, European Union, Korea, Taiwan and Thailand following a complaint from a domestic industry.

Atul Ltd has filed an application before the commerce ministry's Directorate General of Antidumping and Allied Duties (DGAD) for imposition of anti-dumping duty on imports of certain "Epoxy Resins" exported from these five countries.

DGAD has said in a notification that it has "sufficient evidence" of dumping of the chemical from these countries.

"The authority hereby initiates an investigation into the alleged dumping, and consequent injury to the domestic industry," it said.

In the probe, the directorate would determine the existence, degree and effect of the dumped products on the domestic industry.

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If established that dumping had caused material injury to domestic players, DGAD would recommend imposition of anti-dumping duty on the imports.

The period of probe is October 2016 - September 2017. However, for the purpose of injury investigation, the period will also cover the data of 2014-17.

Epoxy Resins have various uses, such as marine paints, industrial paints, adhesives, laminates, civil engineering and construction industry, and automotive coatings.

Anti-dumping duties are levied to provide a level playing field to local industry by guarding against below -cost imports.

Imposition of anti-dumping duty is permissible under the World Trade Organization (WTO) regime. Both India and China are members of the Geneva-based body.
PTI
first published: Apr 20, 2018 03:12 pm

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