NEW DELHI: Acting on an application filed by Reliance Industries Limited on behalf of domestic players, the government may impose anti-dumping duty on a chemical (Mono Ethylene Glycol) used in polyester fibres and films, imported from five countries — Kuwait, Oman, Saudi Arabia, UAE and Singapore. The government has found that the dumping has impacted domestic industries and has launched a probe into it.
“The authority finds sufficient prima facie evidence of dumping of the subject goods, originating in or exported from the subject countries; injury to the domestic industry and causal link between the alleged dumping and injury, to justify initiation of an anti-dumping investigation to determine the existence, degree and effect of alleged dumping and to recommend the amount of anti-dumping duty, which if levied, would be adequate to remove the injury to the domestic industry,” said Directorate General of Trade Remedies.
The period of probe is from January-September 2019. It will also look at the data from 2016-19. The petitioners have claimed that the domestic players had suffered material injury by way of adverse price effects as evident by price undercutting and price depression leading to accumulation of inventories, deterioration in profits, drop in return on capital and profits.