India removes anti-dumping duty on chemicals imports from EU, South Korea, Russia and Singapore

25/10/2021 02:06 - 1 Views

The Finance Ministry has removed anti-dumping duty on Polytetrafluoroethylene (PTFE) imports from South Korea and Russia.

 

It has also revoked anti-dumping duty on phenol imports from the European Union, South Korea and Singapore.

 

Deepak Phenolics Ltd and Hindustan Organics Chemical Ltd had filed the petition seeking sunset review of the anti-dumping duty imposed of phenol originating in or exported from European Union, South Korea and Singapore.

 

Phenol is used in phenol formaldehyde resins, laminates, plywoods, particle boards, Bisphenol A and pharmaceuticals.

 

In the case of PTFE, Gujarat Fluorochemicals had filed the petition seeking fourth sunset review investigations on imports from South Korea and Russia.

 

The anti-dumping duty on PTFE imports from Russia is to lapse on November 30.

 

It maybe recalled that the Finance Ministry had in June 2016 levied a definitive anti-dumping duty of ₹739.77 per tonne on PTFE imports from Russia for five years.

 

This duty was to lapse on June 5 this year, but extended to October 31 after the initiation of 4th Sunset review investigations by the Directorate General of Trade Remedies (DGTR) in February this year for continued imposition of anti-dumping duty on PTFE imports from Russia. This duty was again extended by one more month to November 30.

 

PTFE is primarily used in electrical, electronic, mechanical and chemical industries for its unique characteristics such as chemical inertness, electrical and thermal insulation and outstanding electrical properties over wide frequency range.

Source: Hindu Businessline

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