The Central Government of India has imposed anti-dumping duty on imports of certain steel wire rods from China for five years
- The decision is taken to guard the interest of domestic producers/marketers from cheap in-bound shipments.
- Directorate General of Anti-dumping and Allied Duties (DGAD) which of commerce ministry recommended duty on such imports.
- The duty would be the difference between the landed value of the steel products and $535 per tonne while for others, it should be the gap between the landed value and USD 546 per tonne.
What is Anti-Dumping Duty?
- Countries impose anti-dumping duty to ensure if the domestic industry has been hurt by a surge in below-cost imports.
- As a counter-measure, duties under the multilateral WTO regime are imposed by the countries
- The aim to impose anti-dumping duty is not to restrict imports but to ensure fair trade and provide opportunities to the domestic industries.
