GS-3, Indian Economy, Uncategorized

Anti-dumping duty imposed on clear float glass imports from Iran

India has imposed anti-dumping duty on a certain type of glass from Iran and also Chinese aluminium radiators to protect domestic industry from cheap imports.

Clear float glass is used in construction, refrigeration, mirror and solar energy industries. The product is a superior quality of glass.

Anti-dumping steps are taken to ensure fair trade and provide a level-playing field to the domestic industry. They are not a measure to restrict import or cause an unjustified increase in cost of products.

What is an ‘Anti-Dumping Duty’

An anti-dumping duty is a protectionist tariff that a domestic government imposes on foreign imports that it believes are priced below fair market value. Dumping is a process where a company exports a product at a price lower than the price it normally charges on its own home market.
For ex- If one solar company of China sells one solar panel in China at Rs 1000 per unit (In Chinese currency) but in India market it sells at Rs 900 per unit that is lesser than home market. It will be considered as dumping of product so to protect domestic market govt imposes Anti-dumping duty (For ex- Rs 110 per unit).

Who imposed?

It is imposed by Ministry of Finance on the recommendation of Directorate General of Anti dumping and Allied Duties (DGAD).

 

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