India terminates safeguard probe into imports of Japan PVC resins

MUMBAI (ICIS)–India has terminated its safeguard investigation into imports of polyvinyl chloride (PVC) suspension grade resins from Japan upon request of domestic players.

Domestic producers DCW Ltd, DCM Shriram Ltd and Chemplast Cuddalore Vinyls Ltd had requested that the probe be dropped in view of “market changes in market situation”, India’s Directorate General of Trade Remedies (DGTR) stated in a notification dated 8 July.

The companies cited the India-Japan Comprehensive Economic Partnership Agreement in the application for withdrawing the probe.

PVC is among products exempted from customs duty under the bilateral trade pact.

DGTR launched the probe on PVC resin imports from Japan on 8 September 2020, acting on a petition by the three domestic producers, which account for more than a quarter of India’s PVC production.

India’s construction industry is facing a severe shortage of PVC pipes causing a slowdown in activity.

The Confederation of Real Estate Developers Association of India (CREDAI) has been warning that construction costs were rising because of reduced availability of raw materials including PVC pipes amid pandemic-related lockdowns.

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