Govt starts countervailing duty probe on Vietnamese chemical

India has begun a countervailing duty investigation on increased imports of Calcium Carbonate Filler Masterbatch from Vietnam, following a complaint by domestic manufacturers. The probe aims to determine the impact of subsidized imports and may result in duties to protect Indian industries.

India’s exports to Australia have increased by 14% since signing the ECTA, with substantial growth in textiles, chemicals, and agriculture. Bilateral merchandise trade doubled to $26 billion in FY23. The current momentum reflects strong trade values bolstered by essential raw materials and expanded market access for Indian exporters.

India’s exports to Australia see a 14% growth due to the ECTA, with significant increases in textiles, chemicals, and agriculture. Bilateral trade continues strong, reaching $16.3 billion in April-November 2024. Enhanced market access benefits Indian MSMEs and farmers, promoting a target of AUD 100 billion trade by 2030.

India’s exports to Australia surged by 64.4% year-on-year in November, driven by growth in textiles, chemicals, and agricultural products. Despite a 5.21% decline in overall merchandise exports, the Economic Cooperation and Trade Agreement (ECTA) has expanded market access and employment opportunities, enabling India to aim for AUD 100 billion trade by 2030.

The commerce ministry recommends imposing anti-dumping duties of up to USD 707 per tonne on PVC paste resin imports from China, Korea, Malaysia, Norway, Taiwan, and Thailand to protect domestic producers. The investigation by DGTR found these imports causing material injury to India’s industry. The final decision rests with the finance ministry.

India’s current account deficit slightly decreased to 1.2% of GDP in Q2 FY2025 from 1.3% a year ago, supported by higher services income and remittances, amidst a rising trade deficit. The primary income account net outgo decreased, while foreign exchange reserves hit new highs.

India’s export sector is poised for growth in high-value areas like machinery and electronics despite global uncertainties. The commerce ministry is formulating strategies to boost exports, with a focus on 20 key countries. Additionally, a potential shift in US trade policies under Donald Trump could present new opportunities and challenges.

India’s Directorate General of Trade Remedies initiates probes into alleged dumping of nylon filament yarn from China and Vietnam, and TDQ from China. Century Enka, Gujarat Polyfilms, and Oriilon India, alongside NOCIL Ltd, filed applications. If dumping is confirmed, anti-dumping duties will be recommended to protect domestic industries.

The Indian rupee’s 2.34% depreciation against the US dollar from December 2023 to December 2024 is expected to increase India’s import bill by about USD 15 billion. Gold and industrial goods imports from China, priced in USD, will be significantly affected, while a 5% drop in Brent crude prices mitigates some of the impact on […]

The government imposes six-month import restrictions on low ash metallurgical coke starting January 1, 2025, including quantitative restrictions for specific countries. Imports allowed only with DGFT authorization. QR monitored quarterly, applicable for January-March and April-June 2025. High ash content coke is exempted from this restriction.