Anti-dumping duty imposed on Malaysian Calculators
Published: June 6, 2020
The Government of India has imposed a five year anti-dumping duty on import of electronic calculators from Malaysia. This has been done to protect the domestic players from cheap imports from Malaysia.
An anti-dumping duty of USD 0.92 per piece has been levied after the Commerce ministry’s investigative arm Directorate General of Trade Remedies (DGTR)’s recommendation.
In its finding, the DGTR concluded that the product is below its associated normal value, which is equivalent to dumping resulting in a damage to the domestic industry. The final decision to impose the duty now rests with the Finance ministry.
In International parlance, dumping takes place when a firm exports an item at a lower price than the price of the product in its domestic market. It impacts the price of the product in the importing country and affects the margins and profits of manufacturing firms. The importing country is allowed to impose tariffs on such products to provide an equal level playing field to domestic manufacturers.
Looking at the bilateral trade between the countries, it has increased from USD 14.71 billion in 2017-18 to USD 17.25 billion in 2018-19.
Month: Current Affairs - June, 2020