Basic Chemicals, Pharmaceuticals & Cosmetics Export Promotion Council, set up by union ministry of commerce to promote the exports of Dyes & Dye Intermediates, Inorganic & Organic Chemicals including Agrochemicals, Cosmetics, Toiletries, Essential Oils, Agarbattis and Castor Oil having more than 3500 member exporters spread all over India, has urged the Union government to immediately roll back the anti dumping duty imposed on high grade stainless steel at behest of single private manufacturer in the country.

Mr Anand Ladsariya chairman of Chemexcil said that "Ministry of finance has unilaterally levied anti dumping duty on CR stainless steel which is used in the process industry of all chemicals and agrochemical plants despite our objections to levy of Anti dumping duty. The anti dumping duty has been imposed on the basis of misleading data provided by single petitioner namely Jindal Stainless as it has misled the directorate general of anti dumping by claiming that the company has more than 80% domestic market share. The DGAD without verifying the data of Jindals from the Joint Plant Committee of steel ministry or any other credible market research company recommended anti dumping duty."

Mr Ladsariya said that "The high grade new age stainless steel needed for the Chemical and Pharma industry is presently imported by the end users as it is currently not being manufactured in the country. New age stainless steel is needed for making the manufacturing process safe and has longer life."

He added that "The anti dumping duty imposed on stainless steel at instance of one family owned business will jeopardize the operations of thousands of SMEs in our segment which will affect employment of lakhs of workers."

Friday, 01 May 2009

Source: steelguru.com