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India extends safeguard duty on solar imports, imposes anti-dumping duty on other items

The move is the latest among many by the Indian government to reduce dependence on Chinese imports

July 31, 2020 / 12:55 PM IST
Trade (Image: Reuters)

Trade (Image: Reuters)

India has reportedly extended imposition of safeguard duty and placed anti-dumping duties (ADD) on various import items to protect domestic manufacturers and to bar China from allegedly dumping products like solar cells, digital offset printing plates and industrial raw material.

The Indian revenue department has notified the continuation of safeguard duty on solar cells and panels for another year, in what is being viewed as a means to increase pressure on Chinese imports into the country, Mint reported.

Among other items, provisional ADD is imposed on aniline oil (used to make industrial chemicals) and definitive ADD has been put digital offset printing plate imports. These orders were given late on July 29, it added.

The extension of safeguard duty (14.9 percent for the first six months and 14.5 percent for the rest six months) comes as the period expired on July 29. Relief on safeguard duty will be provided to the extent of any ADD paid on the items.

Chinese imports are likely to be the worst affected. The safeguard duty is also applicable to competitor countries Vietnam and Thailand, but not other developing countries.

In regards to ADD on digital offset printing plates, the ADD will be applicable to select companies from countries such as Vietnam, South Korea, Taiwan and Japan. For ADD on aniline oil, again China is set to be the worst hit with up to $150.8 per tonne duty imposed on import regardless of the route.

The move is the latest among many by the Indian government to curtail Chinese interests in India and reduce dependence on the northern neighbour in terms of imports.

Moneycontrol News
first published: Jul 31, 2020 12:53 pm