The Commerce Ministry will in all likelihood suggest imposition of high anti-dumping duties on exporters from China, Taiwan, Malaysia and the US.
What is an anti dumping duty?
Domestic governments impose such a duty when there is sufficient reason to believe that the imports reaching a country have been deliberately priced below their market value and this is affecting the local industry. This is done to protect domestic industry and save jobs which otherwise may have to shut shop because they cannot compete with the imported low priced products. Read more here.
The US meanwhile is busy setting up a dispute settlement panel at the WTO (World Trade Organisation) which will be setup by Friday.
The decision was arrived at after twin considerations, firstly it didn’t make much sense to insist with local sourcing when the US was going to challenge it and secondly, it can easily be worked around by imposition of anti-dumping duties. However, the Finance Ministry will take the final decision in the matter.
Indian manufacturers have long been hit by a flood of cheaper products from abroad. Imports will however continue because there are exemptions to the local sourcing clause.
Indian solar manufacturers have for long demanded an imposition of anti dumping duties on international imports but project developers in India tend to avoid Indian manufactures citing their low quality products.
Did you know that cinnamon comes from the inner bark of a tree? Yep! When it’s first harvested, it’s a light color, but as it…
Regenerative agriculture is an approach to farming that focuses on restoring soil health, enhancing biodiversity, and improving ecosystem functions. Unlike conventional farming, which often depletes…
Natural coral reefs and underwater habitats have been damaged by pollution, overfishing, and climate change. To help restore marine life, people create artificial reefs using…
As the world continues to transition toward cleaner energy sources, the need for systems that can track, certify, and validate the renewable origin of electricity…
The carbon that marine ecosystems absorb and store is known as "blue carbon." The well-known idea of "green carbon," which describes the carbon retained by…
Introduction Soil testing is a crucial practice in modern agriculture. It assesses soil health, nutrient levels, and pH balance, enabling farmers to make informed decisions…