ALSO READGoM favours 40% GST and cess on luxury goods and tobacco
On epoxy resin from China, Korea, Saudi Arabia, Taiwan and Thailand the duty ranging from $ 34 to $ 286 per metric tonne has been recommended. After the investigation on the complaints by domestic manufacturers the DGTR found that there is significant dumping of these products from the identified countries.
The Case for Protection: Injury to Domestic Industry
Once the DGTR made a recommendation, the finance ministry would usually goes by that and notify theduties.
The dumping depressed the prices of these products in the local market which forced the domestic industry to compromise on its profitability. The domestic industry faced significant losses, cash losses and it earned a negative return on its investments. They also suffered a decline in their market share.
The DGTR concluded that imposition of anti-dumping duty is required to offset dumping and injury. It was also of the view that the imposition of anti-dumping duty will not have any adverse effect on the downstream industry.
The anti-dumping duties will now have to be notified by the Central Board of Indirect Taxes and Customs (CBIC) in the Department of Revenue.
ALSO READFertiliser imports rise 5% in April-July amid supply crunch
Key Products and Their Import Landscape
Acrylic fibre is used extensively by the clothing industry to make winter clothing. In 2024-25 total imports stood at $ 54.2 million.
Liquid epoxy resinshave a wide range of uses due to their strong adhesive properties, chemical resistance, and durability. They are commonly used in construction, manufacturing, and various consumer applications including coatings, adhesives, composites, electrical and electronic components.
Imports of the resin stood at $ 2.72 billion with China accounting for $ 769 million.