In­dia to re­move tax on Tai­wan’s chem­i­cal im­ports

The China Post - - LOCAL -

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.

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