- Budget 2022: Will there be more farm loan waivers or enhance in 80C limit in taxation? Here are expectations from 12 sectors
- Budget My Pick: Sharda Cropchem stock is a top buy with 1-year view for analyst Siddharth Sedani; 30% upside expected
- Zee Business news gets Transport Minister's stamp of approval; Nitin Gadkari drafts notification to make 6 airbags mandatory in
- First Electric Bus in Delhi: CM Arvind Kejriwal flags off electric buses today; to introduce 300 e-buses by April
- TCS buyback ki Pathshala: Should you tender shares, process and more—Anil Singhvi answers these 17 questions that investor needs
India opens dumping probe on Malaysia, Vietnam, Thai copper tube, pipe imports
India is investigating imports of copper tubes and pipes from Malaysia, Vietnam and Thailand, to determine whether producers in these countries were receiving unfair subsidies, the government said
India is investigating imports of copper tubes and pipes from Malaysia, Vietnam and Thailand, to determine whether producers in these countries were receiving unfair subsidies, the government said.
The investigation by India`s Directorate General of Trade Remedies, the investigative arm of the commerce ministry, could result in these imports facing countervailing duties, said a government circular posted on Friday.
The probe covers imports shipped between April 1, 2019 and March 31, 2020.
"The Authority has also received the import data of customs of the subject goods during the past four years which indicate increased imports mainly from Malaysia, Thailand and Vietnam collectively account for more than 90% of total imports of subject goods," the circular said.
In a statement to Reuters, the Vietnamese foreign ministry said Vietnam strictly adhered to World Trade Organization (WTO) rules.
"Trade issues between Vietnam and India should be considered objectively, fairly and transparently in accordance with WTO rules, and bilateral and multilateral trade agreements that the two countries both joined," the ministry`s spokeswoman said in the statement.
See Zee Business Live TV Streaming Below:
Calls to two Vietnam-based companies named in the Indian investigation were not answered.
Get Latest Business News, Stock Market Updates and Videos; Check your tax outgo through Income Tax Calculator and save money through our Personal Finance coverage. Check Business Breaking News Live on Zee Business Twitter and Facebook. Subscribe on YouTube.