L&T Urges Govt To Levy Anti-Dumping Duty On Chinese Goods

14/01/2010 12:00 - 499 Views

(RTTNews) - Private sector engineering major Larsen & Toubro urged the Indian government to levy 25% anti-dumping duty on Chinese goods, as China was virtually pulling the Indian manufacturing sector into dark, reports say.

Chairman and Managing Director A.M. Naik, who was in Surat for foundation stone laying ceremony of a forgings unit at Hazira on Sunday, said China had a fixed currency, and was not a market economy like ours, adding that China was systematically killing the Indian manufacturing sector.

The government levy taxes on goods manufacturing domestically, but no tax was imposed on goods imported from China. Therefore, Naik suggested levying anti-dumping duty on Chinese goods as well.
Commenting about power equipment sector, Naik said the Indian power companies, especially those in the private sector, had placed huge orders for power plant equipment with China.

by RTT Staff Writer

1/11/2010 5:14 AM ET

Source: www.rttnews.com