Anti-dumping duty on chemicals import from US, China
The Dollar Business Bureau In a bid to protect domestic makers from cheap imports, anti-dumping duty of $0.277- $0.404 per kg has been slapped on a compound that is utilized in the pharma industry, imported from China and the US. The CBEC (Central Board of Excise and Customs) has put the anti-dumping duty for five years on Methyl Acetoacetate imports from China and the US. The move came in after the recommendations from the regulatory body DGAD (Directorate General of Anti-dumping and Allied Duties). After examining the imports, the DGAD findings revealed that the domestic industry suffered because the chemical compound was being imported below the normal values. "The material injury has been caused by the dumped imports of subject goods from the subject countries,” ...
Indias trade deficit falls to $5.1 bn in March
The Dollar Business Bureau India’s trade deficit has fallen for the third month in a row to $5.1 billion in March as both exports and imports have declined 5.5% and 21.6% respectively. As per the official data released by the Ministry of Commerce and Industry, exports have come down continuously for the 16th month to reach $22.7 billion in March, while the imports have also dipped to $27.8 billion last month leading to a trade gap of $11.4 billion in March 2015. Explaining the tepid global demand for exports, the Commerce Ministry said, “The trend of falling exports is in tandem with other major world economies. The growth in exports have fallen for USA (10.81 per cent), European Union (7.40 per cent), ...
China bans USA poultry imports, will India be the next to do so?
Sai Nikesh D | The Dollar Business USA's poultry exports have grown to around $4 billion per year, but are expected to dip in 2014-15 In a move that is expected to hit the US poultry industry hard, the Chinese government has banned all imports of US poultry and egg products, effective January 8, 2015, after the detection of highly pathogenic avian influenza (HPAI) in some parts of USA last month. China’s Ministry of Agriculture (MOA) and the General Administration for Quality Supervision, Inspection and Quarantine (AQSIQ) have said that the ban will also cover breeding stock, which includes live chicks and hatching eggs. The ban has been imposed despite assurances by the USDA’s Animal and Plant Health Inspection Service ...
USDA sees good prospects for almond exports to India
The Dollar Business The USDA has placed almonds on the top of the list in its recommendations for exporters in USA for entering the Indian market. While saying that India remains a complex market to make inroads for food companies, USDA says that almond exports to India have been promising with an average growth of around 20% and a share of around 80% of India's total almond imports in the last five years. India is a small but growing market for exporters in USA thanks to globalisation of food and higher incomes in India. According to official estimates, India’s imports of consumer-oriented foods, led by tree nuts and fresh and dried fruits, have doubled to around $3.2 billion in the last five years, ...
Indias policy barriers hurting imports from USA: USITC
USA's exports to and investment in India could increase by up to 66% without trade and non-trade barriers, according to a new report commissioned by the House Committee on Ways and Means and the Senate Committee on Finance Bidhu Bhushan Palo | The Dollar Business Ahead of President Barack Obamas visit to India next month and amid hectic consultations on Indo-US trade, the U.S. International Trade Commission (USITC) has released a new report which claims that Indias imports from USA have remained much below potential mainly due to policy barriers in India. India runs a trade surplus of around $16.6 billion with USA, but this could shrink to a mere $2 billion, if India takes corrective steps, says the USITC in its ...
European Union challenges India on marble import restrictions at World Trade Organisation
The Dollar Business Bureau | @TheDollarBiz A marble quarry site in Carrara, Italy The European Union (EU) has challenged India on the issue of import restrictions on marbles and marble products at the World Trade Organisation (WTO), after the European Commission (EC) received complaints about it from the marble stone industry in Europe. According to the European Commission, the licensing system in place in India restricts the supply of imported marble to domestic users in India. The Commission claims that it has received complaints from its industry that India's current licensing regime for marbles contains restrictions which include an annual import quota below the level of potential imports and a minimum import price. “Such measures not only hit the EU marble ...
WTO opens doors for USA poultry exports to India
The Dollar Business Bureau | @TheDollarBiz A Stamp printed in USA in 1944 shows the Light Brahma Rooster, Centenary of the American poultry industry USA has won a dispute at the World Trade Organization (WTO) over India’s ban on imports of poultry products from USA after India failed to provide any scientific basis for the restrictions for around two years now. India had placed restrictions on imports of poultry products such as poultry meat, eggs, and live pigs from USA in February 2007 due to concerns over Bird Flu. However, USA complained to WTO on March 6, 2012 that the ban was unjustified. It claimed that no outbreak of High Pathogenic Avian Influenza (HPAI) has been recorded in USA since ...
