The Directorate General of Trade Remedies in India has recommended to the country’s Ministry of Commerce that anti-dumping duties be imposed for five years on imports of Chinese cold-rolled alloy steel. This type of alloy steel possesses specific magnetic properties for electrical applications and is primarily used in the cores of electric motors, generators, and transformers.
According to reports, the move aims to protect domestic manufacturers from low-priced imports that threaten their business operations.
These Chinese products have been exported to India at prices below their normal value, resulting in market dumping. Consequently, a duty of $223.82 per ton for certain Chinese companies and $414.92 per ton for others has been proposed.
The organization stated that the purpose of imposing these duties is to ensure fair trade conditions and equal competition between domestic producers and foreign suppliers. The final decision on implementing these duties will be made by India’s Ministry of Finance.
This measure comes as India faces a trade deficit of around $100 billion with China.
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