NEW DELHI: The Directorate General of Trade Remedies (DGTR), the investigative arm of the Commerce Ministry, has initiated a probe to review re-imposition of anti-Dumping duty on certain kinds of steels from seven countries including China.
Months ago, India had imposed anti-dumping duty on certain types of steel products imported from China, Korea, European Union, South Africa, Taiwan, Thailand and the US with a view to guard domestic manufacturers from cheap imports. “On the basis of the duly substantiated application by or on behalf of the domestic industry, and having satisfied itself, on the basis of the prima facie evidence submitted by the domestic industry, about the likelihood of continuation or recurrence of dumping and injury to the domestic industry...the authority, hereby, initiates a sunset review investigation,” the notification, dated September 30, stated.
The notification came as Jindal Stainless Ltd, Jindal Stainless (Hisar) Ltd and Jindal Stainless Steelway Ltd have filed an application before DGTR for sunset review of anti-dumping duty imposed on imports of ‘Cold Rolled Flat Products of Stainless Steel of width 600 mm to 1250 mm and above 1250 mm of non bonafide usage’ from these countries.
In international trade parlance, dumping happens when a country or a firm exports an item at a price lower than the price of that product in its domestic market. Dumping impacts the product price in the importing nation.