India has imposed anti-subsidy obligation for a duration of five years on copper twine rods from Indonesia, Malaysia, Thailand and Vietnam after concluding a probe that those imports have impacted domestic players. In a notification, the finance ministry said that it has imposed the anti-subsidy or countervailing responsibility after considering the very last findings of the trade ministry’s investigating arm Directorate General of Trade Remedies (DGTR).

DGTR has recommended imposition of the obligation on the imports of ‘continuous forged copper cord rods’ from these four international locations.

“The countervailing duty imposed underneath this notification will be levied for a length of 5 years (unless revoked, superseded or amended in advance)…,” the notification said.

In its probe, the DGTR had concluded that the products have been exported to India from these countries at subsidised prices.

Last year, domestic players had filed an application before the directorate mentioning alleged subsidisation of the goods from these 4 international locations, and requested the initiation of an anti-subsidy investigation.

It had said that the domestic industry has suffered material harm because of subsidisation of the product and the injury has been caused by the subsidised imports of the goods originating in or exported from these countries.

The obligation imposed changed into within the variety among 2.Forty seven% and 10.27% at the landed price of the product in India.

The petitioners had alleged that the producers/exporters of the products in those countries have benefitted from the “actionable subsidies” provided at various degrees via the governments of these nations.

Countervailing or anti-subsidy duty is a rustic-unique responsibility which is imposed to safeguard domestic industry towards unfair trade subsidies supplied via the nearby governments of the exporting countries.