India is aggressively moving to protect domestic companies with more news trickling in on safeguard and antidumping duties. The government is planning to initiate safeguard duty investigations on Chinese imports of 12-13 products from the chemicals and base metals sector, says this report in the Business Standard.
This comes after the government decided on 30 January to impose a safeguard duty of 31% on soda ash imports from China. A consortium of companies, which included Tata Chemicals, claim that Chinese imports which had averaged 4,041 tonnes during April-October 2008 had sharply increased to 10,000 tonnes in November 2009 and 15,000 tonnes in December 2009.
The government also introduced a 25% safeguard duty on phthalic anhydride (PA) imports which will last until 26 August 2009.
And the government is considering levying provisional antidumping duty of $0.84-$0.92/kg on imports of all grades of nylon tyre cord fabric from Belarus. The country’s antidumping authority is also separately recommending the levy of definitive ADD on NTCF imports from China.
An antidumping probe has also been launched on polypropylene (PP) imports from Saudi Arabia, Singapore and Oman.
So how do you reconcile this news with the recent statement by the G20 finance ministers that the countries would make efforts to end trade protectionism?