The government has imposed anti-dumping duty for 5 years on steel imports from three countries including China. Similarly, preparations are being made to impose 20 percent basic custom duty (BCD) on solar items coming from China from August.
Anti-dumping duty imposed on Steel Imports from three Countries including China
The government, which is controlling sugar imports in many ways, imposed an anti-dumping duty on steel imports for 5 years. Preparation of 20% tax on imports of solar products
The Modi government seems to be in a stiff mood to stop the dumping of Chinese goods in the country. The government has imposed anti-dumping duty for 5 years on steel imports from three countries including China. Similarly, preparations are being made to impose 20 percent basic custom duty (BCD) on solar items coming from China from August. Not only this, goods coming from China have been stopped at ports since 22 June.
Significantly, 20 violent soldiers of our country have died in violent clashes along the border with China. In such a situation, there is a strong atmosphere against China in the country and the campaign to boycott Chinese goods has started. In such a situation, the government also wants to tighten China’s net by way of business.
The Revenue Department has issued a notification stating that anti-dumping duty will be imposed on flat rolled steel products coming from China, South Korea and Vietnam, plated or coated with aluminum or zinc alloys. This duty will remain for the next five years. It is obvious that China is the target and the government wants to stop the dumping of steel from there in India.
This anti-dumping duty will range from $ 13.07 per metric ton to $ 173.07 per metric ton. It will be different for the three countries.
Strict on Solar Item Import
Apart from this, the Indian government is preparing to impose a 20 percent Basic Counter Duty (BCD) on solar modules, solar cells and solar inverters coming from China, so as to discourage imports from China. Currently, 15 percent of the safeguard duty is levied on solar equipment coming from China. 80 to 90 percent of the solar items sold in the country are imported from China.
The Government of India has set an ambitious target of generating 100 GW of solar energy in the country by 2022. In the first nine months of FY 2019-20, India imported a total of $ 1.5 billion of solar equipment, of which $ 1.2 billion was imported from China.
Chinese goods held at ports
The effect of boycott of Chinese goods in the country is now beginning to be seen at the ports. Importers say that the government has stopped goods coming from China since June 22 at ports and airports and their clearing has been stopped. However, no government order has been issued in this regard. But traders say that the government’s clear message is that the goods coming from China should not be delivered till the next order.
Also read: Traders will boycott Chinese goods, will give 1 lakh crore blow to China by December 2021
Rajiv Nath, Forum Coordinator of the Association of Indian Medical Devices Industry and Joint Managing Director of Hindustan Syringes, says that 100% of the goods coming from China are being investigated. He said, “We have been told that there will be 100 per cent inspection of goods coming from China at the ports.”
Our associate publication Business Today sought official information about this from the Ministry of Commerce and Industry, but has not received any reply yet.