India Extends Anti-Subsidy Duty on Chinese Origin Pesticide Chemical for Five More Years

19/09/2024 06:50 - 40 Views

India has extended its countervailing duty on import of ‘Atrazine Technical’ from China that is used in pesticides, for an additional five years to protect domestic manufacturers. This decision follows a recommendation from the Directorate General of Trade Remedies (DGTR), the commerce ministry’s investigative arm, which advised the continuation of the duty on imports of this chemical from China.

The finance ministry has confirmed that the anti-subsidy duty, ranging up to 11.94%, will be applied for five years unless modified or revoked earlier. This move is aimed at safeguarding Indian producers by preventing market distortions caused by subsidized exports.

The DGTR’s investigation found that the imposition of the duty has supported the growth of the domestic industry, enabling more Indian producers to enter the market and expand production capacities. The subsidized imports from China were negatively impacting local companies by reducing their profit margins. The duty was initially introduced by the revenue department in September 2019.

In line with global trade regulations, countries are permitted to impose countervailing duties on imports that are subsidized by the exporting country, helping to level the playing field for domestic industries.

Source: Krisha Jagat