India to remove tax on Taiwan’s chemical imports
The Ministry of Economic Affairs (MOEA) said Saturday that India has decided to remove antidumping tariffs the South Asian country imposed a decade ago against certain chemical imports from Taiwan.
The Indian government has decided to revoke the anti-dumping tariffs against Taiwan’s epoxy resin and polyester aldehyde, starting from Aug. 31, the MOEA said.
The tariff removal will also cover products exported from China and South Korea, the ministry added. The MOEA said that the decision to cancel the anti-dumping financial penalty against Taiwan’s epoxy resin and polyester aldehyde chemical products came after India’s Manali Petrochemicals Ltd. made a request to the Indian government to do so.
Manali’s request resulted from a recent review of earlier investigations into the particular chemical imports which determined that exporters of the two chemicals from Singapore and the European Union, instead of from Taiwan, China and South Korea, were the ones causing damage to the Indian industry by selling the material at unfairly low prices.
Manali had previously filed a complaint, accusing exporters from Taiwan, China and South Korea of dumping the two chemicals into its country.