NEW DELHI, Apr 25: India has initiated an investigation into alleged dumping of a certain variety of stainless steel by China, Korea and Malaysia following a complaint by Jindal Stainless Ltd.
The Commerce Ministry’s designated authority, the Directorate General of Anti-Dumping and Allied Duties (DGAD), has begun a probe into alleged dumping of “certain Hot-Rolled Flat Products of Stainless Steel 304 series”.
In a notification, the DGAD has said the applicant has provided sufficient evidence that the normal value of the product in these countries is significantly higher than the net export price.
The evidences have prima facie indicated that the product is being dumped from China, Republic of Korea and Malaysia, it said.
“The authority finds sufficient prima facie evidence of dumping of subject goods by the countries, injury to the domestic industry and causal link between the dumping and injury, the authority hereby initiates an investigation…,” the notification said.
In the probe, the directorate would determine the existence, degree and effect of alleged dumping and will recommend amount of anti-dumping duty, “which if levied would be adequate to remove the injury to the domestic industry”.
The DGAD is the nodal agency under the Commerce Ministry for such investigations.
The period of investigation is April 2012 – June 2013. However, for the purpose of analysing injury, the data of previous three years (2009-2012) would also be considered, the notification added.
The country’s largest stainless steel producer Jindal Stainless Ltd in its submission has said that the “application has been made by or on behalf of the domestic industry”.
This particular variety of the steel is used for manufacture of process equipments, re-rolling, reactor vessels, material handling equipments, railways, pipes & tubes, automotive components, building & construction, industrial fabrication and power sector.
Unlike safeguard duties, which are levied in a uniform way, anti-dumping duties vary from product-to-product and from country to country.
Countries initiate anti-dumping probes to check if their domestic industries have been hurt because of a surge in cheap imports. As a counter measure, they impose duties within the multilateral regime of the WTO.
Anti-dumping measures are taken to ensure fair trade and provide a level playing field to domestic industry. It is not a measure to restrict imports or cause an unjustified increase in the cost of products. (PTI)
Follow our WhatsApp channel