India renews anti-dumping duty on Chinese paracetamol
Updated: Oct 31, 2013 02:48:36pm
The duty will be slapped at USD 787 per tonne on the recommendation of the Directorate General of Anti-Dumping Duty (DGAD).
“The anti-dumping duty imposed (on paracetamol) under this notification shall be effective for a period of five years...,” said the Central Board of Excise and Customs (CBEC).
The DGAD after a ‘Sunset Review’ had concluded that despite the anti-dumping measures, dumping of paracetamol originating in or exported from China have continued unabated causing injury to the domestic industry.
"Should the present anti-dumping duties be revoked, dumping of the subject goods may in all likelihood intensify, causing further injury to the domestic industry," the authority said.
The anti-dumping duty, a World Trade Organisation (WTO) compatible levy to discourage imports, was first imposed on the bulk drug in 2001 and extended through different stages till September 2013. (KNN/ST)