India has extended anti-dumping duty on import of a certain variety of fibre board, originating in or exported from China, Malaysia, Sri Lanka and Thailand, till January 20, 2021.
The duty varies between $5 and $46 per cubic meter and was imposed back in 2015 on fibre board used in furniture and other related industries.
The Directorate General of Trade Remedies had sought for an extension of the duty on “Plain Medium Density Fibre Board of thickness 6mm and above” after initiating a review in February this year on complaints of some companies that cheap imports were impacting local industry.
“Notwithstanding anything contained in paragraph 2, the anti-dumping duty imposed under this notification shall remain in force up to and inclusive of the 20th January, 2021, unless revoked, superseded or amended earlier,” a notification issued by the department of revenue said on Tuesday.
Imposition of anti-dumping duty is permissible under the World Trade Organization (WTO) regime. India and Vietnam are members of the Geneva-based organisation, which deals with global trade norms.
The duty is aimed at ensuring fair trading practices and creating a level-playing field for domestic producers vis-a-vis foreign producers and exporters.
Source : Times of India