India has recently levied anti-dumping duties on five Chinese products to safeguard its domestic industries against unfair pricing strategies.
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Products Impacted: The duties are imposed on Soft Ferrite Cores, vacuum insulated flasks, aluminium foil, Trichloro Isocyanuric Acid, and Poly Vinyl Chloride Paste Resin.
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Duty Period: The majority of the duties will be in force for five years, while aluminium foil will be subject to a provisional duty for six months.
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Duty Rates: The duties range from USD 276 to USD 1,732 per tonne, with individual rates for each product depending on their market value.
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Trade Context: The action is part of India's continued attempts to counter a trade deficit with China, which stood at USD 85 billion in 2023-24.
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Regulatory Framework: The duties were suggested by the Directorate General of Trade Remedies (DGTR) and are in accordance with World Trade Organization (WTO) rules.
This move is in line with India's efforts to protect its local manufacturing industry from cheap imports.
Source: Times of India.