Latest News | DGTR for Continuation of Anti-subsidy Duty on a Chinese Chemical for 5 Yrs

New Delhi, Jun 21 (PTI) The commerce ministry's investigation arm DGTR has recommended continuation of countervailing or anti-subsidy duty on a Chinese chemical used in pesticides for five more years to guard domestic players.

In a notification, the Directorate General of Trade Remedies (DGTR) has said that continuation and revision of the existing duty on the imports of 'Atrazine Technical' is required in this case.

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"The authority considers it appropriate and necessary to recommend continuation of definitive duty...for a period of five years," the DGTR has said.

The directorate has recommended a duty of up to 11.94 per cent on the product.

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The finance ministry takes the final decision to impose this duty.

In its probe, the DGTR has concluded that the current duties have allowed more Indian producers to enter the market and have helped the domestic industry to expand its capacity.

A domestic manufacturer had filed the application for the sunset review of the existing duties, which were imposed to counter the subsidies given by China to its producers of this chemical.

According to the notification, the applicant has sought an enhancement of the duty on the imports.

The subsidised exports were hurting Indian players.

The revenue department had imposed the duty in September 2019.

Subsidised exports impact the price of that product in the importing country, hitting the margins and profits of manufacturing firms.

According to global trade norms, a country is allowed to impose countervailing or anti-subsidy duties on such imports.

(The above story is verified and authored by Press Trust of India (PTI) staff. PTI, India’s premier news agency, employs more than 400 journalists and 500 stringers to cover almost every district and small town in India.. The views appearing in the above post do not reflect the opinions of LatestLY)