Steel exports to Thailand hit by safeguard duty
Updated: Feb 05, 2014 06:00:27pm
New Delhi, Feb 5 (KNN) India's export of hot rolled steel flat products to Thailand have been hit following imposition of safeguard duty by Thai government at the rate of 44.2 per cent.
“Safeguard duty so imposed will have an impact on India’s exports of those specific products to Thailand,” Minister of State for Commerce and Industry, E M Sudarsana Natchiappan conceded in parliament today.
Recently, Thailand imposed a definitive safeguard duty on imports of certain hot rolled steel flat products originating from India at the ad valorem rate of 44.2 per cent for the period 15th September, 2013 to 26th February, 2014. This, the Minister added would be progressively reduced as per the provisions of Agreement on Safeguard under the World Trade Organization (WTO).
The government is constantly reviewing policies and providing support from time to time to make the Indian products competitive in the international market. Apart from the neutralization of duties on imports, the government is providing incentives to various sectors, including engineering sector, by way of Focus Product Scheme, Focus Market Scheme, Market Linked Focus Product Scheme, Interest Subvention, Incremental Growth Scheme etc.
Further, to protect the domestic manufacturing sector, amongst others, the government is also monitoring the imports of steel products, so as to ensure that imports which can be avoided by strengthening the domestic manufacture are identified.
It is also invoking Trade Remedial actions by way of Anti-Dumping and Safeguard duties on imports following the rights and obligations under WTO.
Meanwhile, India has faced dumping of goods in several sectors like chemicals, steel, fibre and yarns and pharma from a number of countries including China.
“The major products found to have been dumped in all these years and in respect of which anti-dumping duty has been imposed fall in the product group of Chemicals and Petrochemicals, Pharmaceuticals, Products of Steel and other metals, Fibre amd Yarns and Consumer Goods,” the Minister said.
During the last five years 2009-2013, Directorate General of Anti-Dumping Duties and Allied Duties (DGAD) has initiated 64 fresh anti-dumping investigations on imports of various products from other countries like China PR, EU, Korea, Thailand, USA, Chinese Taipei, etc. (KNN)
“Safeguard duty so imposed will have an impact on India’s exports of those specific products to Thailand,” Minister of State for Commerce and Industry, E M Sudarsana Natchiappan conceded in parliament today.
Recently, Thailand imposed a definitive safeguard duty on imports of certain hot rolled steel flat products originating from India at the ad valorem rate of 44.2 per cent for the period 15th September, 2013 to 26th February, 2014. This, the Minister added would be progressively reduced as per the provisions of Agreement on Safeguard under the World Trade Organization (WTO).
The government is constantly reviewing policies and providing support from time to time to make the Indian products competitive in the international market. Apart from the neutralization of duties on imports, the government is providing incentives to various sectors, including engineering sector, by way of Focus Product Scheme, Focus Market Scheme, Market Linked Focus Product Scheme, Interest Subvention, Incremental Growth Scheme etc.
Further, to protect the domestic manufacturing sector, amongst others, the government is also monitoring the imports of steel products, so as to ensure that imports which can be avoided by strengthening the domestic manufacture are identified.
It is also invoking Trade Remedial actions by way of Anti-Dumping and Safeguard duties on imports following the rights and obligations under WTO.
Meanwhile, India has faced dumping of goods in several sectors like chemicals, steel, fibre and yarns and pharma from a number of countries including China.
“The major products found to have been dumped in all these years and in respect of which anti-dumping duty has been imposed fall in the product group of Chemicals and Petrochemicals, Pharmaceuticals, Products of Steel and other metals, Fibre amd Yarns and Consumer Goods,” the Minister said.
During the last five years 2009-2013, Directorate General of Anti-Dumping Duties and Allied Duties (DGAD) has initiated 64 fresh anti-dumping investigations on imports of various products from other countries like China PR, EU, Korea, Thailand, USA, Chinese Taipei, etc. (KNN)
Loading...
