India has extended countervailing or anti-subsidy duties on a Chinese chemical used in pesticides for another five years to protect domestic players.
The decision followed a recommendation by the Commerce Ministry’s investigative arm, DGTR, to continue imposing tariffs on imports of “Technical Atrazine” from China.
“The countervailing duty imposed under this notification shall apply for a period of five years (unless revoked, replaced or modified earlier) from the date of publication of this notification,” a notification from the Ministry of Finance said.
The Ministry of Finance has imposed a tariff of up to 11.94 percent on the product.
In its investigation, the DGTR concluded that the current tariffs have allowed more Indian producers to enter the market and helped the domestic industry expand its capacity.
Subsidised exports were hurting Indian players. The revenue department had earlier imposed the duty in September 2019.
Subsidized exports impact the price of that product in the importing country, affecting the margins and profits of manufacturing companies.
Under global trade rules, a country is allowed to impose countervailing or anti-subsidy duties on such imports.
The ministry has also extended anti-subsidy tariffs on imports of welded stainless steel pipes and tubes from China and Vietnam for five years.
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