The measure is designed to prevent ‘a heightened risk of future injury’ to the domestic industry.
In order to shield domestic manufacturers from unfairly priced imports, India has levied a five-year anti-dumping levy on hot-rolled flat products of alloy or non-alloy steel from Vietnam.
The Directorate General of Trade Remedies (DGTR) ruled on August 13 that Vietnamese shipments were being dumped in India at rates below the normal value, harming the country’s steel industry. The Finance Ministry announced the judgment on Thursday.
“If anti-dumping duty is not imposed on import of subject goods from the subject country, there is also a threat of further aggravated injury to the domestic industry,” the notification stated.
The announcement states that Hoa Phat Dung Quat Steel JSC is not subject to the levy. A $121.55 anti-dumping duty per metric tonne will be imposed on all other Vietnamese manufacturers and exporters of certain goods. Products exported from Vietnam by non-Vietnamese manufacturers are subject to the same charge.
Hot-rolled flat items of alloy or non-alloy steel with a maximum thickness of 25 millimetres and a maximum width of 2,100 millimetres that are not clad, plated, or coated are covered by the duty. Tariff headings 7208, 7211, 7225, and 7226 apply to these. According to the notification, hot-rolled flat items made of stainless steel are exempt from the regulation.
Unless it is cancelled, replaced, or modified sooner, the anti-dumping tax will be in force for five years after the date of publication. On the day the bill of entry is presented, it will be due in Indian rupees at the relevant exchange rate.
SOURCE – BUSINESS STANDARD
