India has enforced anti-subsidy responsibility for a period of five years on copper wire rods from Indonesia, Malaysia, Thailand and Vietnam after finishing a probe these imports have affected national players.
In a telling, the finance ministry said it has levied the anti-subsidy or countervailing duty following the final findings of the trade ministry’s exploring arm Directorate General of Trade Treatments (DGTR).
DGTR has recommended imposition of this duty on the imports of’continuous cast aluminum cable sticks’ from those four nations.
“The countervailing duty imposed under this notification will be enforced for a period of five years (unless revoked, superseded or amended earlier)…,” the notification said.
In its research, the DGTR had reasoned that the goods are exported to India from those countries at subsidised rates.
This past year, national players had filed an application prior to the directorate saying alleged subsidisation of the goods from those four countries, and asked the initiation of an anti-subsidy investigation.
It had said that the domestic industry has suffered material injury because of subsidisation of this merchandise and the harm was due to the subsidised imports of these merchandise originating in or exported from such countries.
The obligation imposed was at the range between two. 47 percent and 10. 27 percent on the landed price of this item in India.
The petitioners had alleged the producers/exporters of these goods in these states have profited in the”actionable subsidies” offered at different levels by the authorities of those nations.
Countervailing or anti-subsidy obligation is a country-specific duty that’s imposed to protect domestic business from unfair trade subsidies supplied from the regional authorities of the exporting countries.