Home / Economy / News / Govt may impose anti-dumping duty on polystyrene to guard domestic players

Govt may impose anti-dumping duty on polystyrene to guard domestic players

The duty is aimed at ensuring fair trading practices and creating a level-playing field for domestic producers vis-a-vis foreign producers and exporters

cash, currency, notes, funds, investment, shares, growth, profit, loss, tax, money, income, earnings

Premium

In international trade parlance, dumping happens when a country or a firm exports an item at a price lower than the price of that product in its domestic market.

Press Trust of India New Delhi

3 min read Last Updated : Jun 15 2020 | 8:27 PM IST

India may impose anti-dumping duty on imports of polystyrene, used in refrigerators and air conditioners, from Iran, Malaysia, Singapore, Chinese Taipei, UAE and the US with a view to guard domestic players from cheap imports from these countries.

Ineos Styrolution India Ltd and Supreme Petrochem Ltd had filed the application for imposition of the anti-dumping duty on imports of polystyrene from these nations.

After conducting a probe, the commerce ministry's investigation arm Directorate General of Trade Remedies (DGTR) has recommended imposition of the anti-dumping duty on the product from these six countries.

ALSO READ: Covid-19 impact: Snack

What you get on BS Premium?

Unlock 30+ premium stories daily hand-picked by our editors, across devices on browser and app.
Pick your 5 favourite companies, get a daily email with all news updates on them.
Full access to our intuitive epaper - clip, save, share articles from any device; newspaper archives from 2006.
Preferential invites to Business Standard events.
Curated newsletters on markets, personal finance, policy & politics, start-ups, technology, and more.

VIEW ALL FAQs

Need More Information - write to us at assist@bsmail.in