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Increasing imports of goods such as umbrellas, toys, certain fabrics, and musical instruments are severely hurting MSMEs as many of these products are also made by domestic businesses, according to think tank GTRI. The report said that during January to June 2024, India exported goods worth only USD 8.5 billion, while imports stood at USD 50.4 billion, resulting in a trade deficit of USD 41.9 billion. This low export and high import makes China India's largest trade deficit partner. "China accounts for 29.8 per cent of India's industrial goods imports. India must invest in deep manufacturing to cut dependence on import of critical industrial products from China," Global Trade Research Initiative (GTRI) Founder Ajay Srivastava said. He said that these imports from China are "hurting" Indian MSMEs, as many of the imported products are also made by these local businesses. He noted that the cheaper Chinese goods make it tough for MSMEs to compete, leading to struggles for survival. "
India on Thursday imposed anti-dumping duties on three Chinese products including hydraulic rock breaker with an aim to protect domestic players from cheap imports. These duties were imposed following a recommendation by the commerce ministry's directorate general of trade remedies (DGTR), which has concluded in its probe that dumping of these goods are impacting domestic industry. The DGTR held investigations after complaints were filed by domestic players on the dumping of these goods. The department of revenue has notified these duties in three separate notifications. On hydraulic rock breakers, the duty ranged between 4.55 per cent and 162.5 per cent of CIF (cost, insurance, freight) value in US dollars. The duty was also imposed on these goods coming from Korea. These breakers are used in the construction and mining industry for carrying out demolition, excavation, mining and boulder breaking activities. "The anti-dumping duty imposed (on these breakers) ...shall be effectiv
The commerce ministry's investigation arm DGTR has initiated a probe to review the need to continue the anti-dumping duty on flax yarn imported from China, following complaints from the domestic industry. Grasim Industries Ltd and Sintex Industries have filed an application before the Directorate General of Trade Remedies (DGTR) for initiation of the sunset review of the anti-dumping duty imposed on imports of 'flax yarn of below 70 lea count' exported from China to India. Lea is a unit for measuring the length of yarn. Normally it is taken as 80 yards for wool, 120 yards for cotton and silk, and 300 yards for linen. Flax yarn is used to make flax fabrics, which is used in apparel and home textiles. DGTR in a notification has said prima facie there is an evidence of dumping of the product from China in spite of the existing anti-dumping duties. On the basis of the duly substantiated application of the applicants and "having satisfied itself, on the basis of the prima facie evidenc
Punjab Cabinet minister Gurmeet Singh Meet Hayer on Tuesday said the state government has asked all deputy commissioners to take exemplary action against those selling Chinese kite flying string. Hayer said a 13-year-old boy died after the Chinese string of a kite got entangled around his neck in Rupnagar district on Sunday Chief Minister Bhagwant Mann has taken a serious notice of this extremely unfortunate incident and has ordered strict action against such people who put human lives at risk. In a statement, he said children, elderly and animals have suffered in the past too due to Chinese string. He said there is a blanket ban on selling and using Chinese string in the state and there is not even a single manufacturing unit in the state, but some people bought these strings from other states. Those found involved in selling Chinese string will not be spared at any cost, he added.