ANTI DUMPING DUTY
Govt tightens duty exemption rules for metallurgical coke imports
The government has tightened conditions for importers seeking exemptions from anti-dumping duty on low ash metallurgical coke, a key input for steelmaking and ferroalloy production. The finance ministry has made compliance with a prescribed customs procedure mandatory for eligible importers.
When wars and AI cast a shadow, India has pressed a power reset
India’s renewable energy expansion is reshaping its energy security, cutting dependence on imported coal and natural gas as wars, oil supply disruptions and AI-driven electricity demand put pressure on power markets. An International Energy Agency report says clean energy saved India over $100 billion in fuel imports between 2011 and 2025, with cumulative savings potentially reaching $240 billion by 2030.
China cleantech stocks surge on hopes of stronger US clean energy support
Chinese cleantech stocks rallied on Thursday as Democrats' strong US midterm election performance fuelled hopes of stronger support for renewable energy. Investors expect potential policy shifts to benefit solar, battery and clean energy companies, although existing US tariffs and trade restrictions could limit Chinese exporters' access to the American market.
India’s solar components market to more than double to $7.8 billion by March 2028: CEEW
India's market for solar module components is projected to exceed $7.8 billion by March 2028. This growth is primarily driven by increased domestic manufacturing capacity and rising demand. Planned expansions of production facilities are crucial for meeting anticipated requirements. Additionally, ensuring consistent quality and reliable supply chains will enhance competitiveness against imports. The study emphasizes the importance of clear standards and regulations for the solar components industry.
Asian Paints shares see target price cuts by Jefferies, Goldman Sachs, other brokerages after Q2 results. Buy, sell or hold?
Asian Paints has reported a year-on-year profit growth of 7% for the second quarter of FY 2027. Revenue surged by around 17%, although expenses climbed by 19%, underscoring the challenges posed by inflation. Despite brokerages adjusting their target prices, the company declared an interim dividend of Rs 5.75 per share and hinted at upcoming price hikes.
Centre working on integrated tax framework for textile sector to ease duty burden on raw materials and machinery
An integrated tax framework for India's textile sector is being developed to improve competitiveness in global markets. This framework will potentially encompass various duties affecting production stages from raw materials to finished products. The government's focus is on enhancing textile manufacturing, especially in technical textiles and traditional clusters. Industry representatives are advocating for duty exemptions on specific raw materials to support domestic manufacturing viability.
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India brings back duties on specified Chinese titanium dioxide imports
India has reintroduced anti-dumping duties on titanium dioxide imports from China due to material injury caused to domestic producers. This action follows a recommendation from the Directorate General of Trade Remedies, which concluded that Chinese imports were sold at dumped prices. The duties will be effective for five years unless revoked or amended. This decision comes after the Calcutta High Court ordered a reconsideration of a previous duty case.
China faces fresh Indian duties on titanium dioxide imports: Anti-dumping levy of $460-$681 per tonne reimposed for five years
India has reimposed anti-dumping duties of $460 to $681 per tonne on specified titanium dioxide imports from China for five years, following a fresh investigation into injury to domestic manufacturers. The Finance Ministry notified the levy on Saturday. The move could raise input costs for paint makers and other industries, potentially affecting prices, while certain pharmaceutical, cosmetic, food and textile applications remain excluded.
Europe’s last penicillin plant faces a bitter fight against China’s cheaper drugs
The Sandoz penicillin plant in Kundl, Austria, is under threat from cheaper Chinese antibiotic production. European healthcare programs benefit from the lower prices, which could jeopardize self-sufficiency. China's share of the EU penicillins market has rapidly increased in recent years. European policymakers are becoming increasingly concerned about reliance on China for essential medicines. The current dynamics highlight the significant trade challenges facing European pharmaceutical manufacturers.
EU and China strike interim trade deal that could cut Chinese hybrid exports
China and the European Union have agreed on a preliminary trade deal to address trade imbalances. This deal includes reduced tariffs on certain European goods and measures for reliable rare earth supply chains. The EU trade commissioner noted that this agreement could significantly decrease Chinese electric vehicle imports. Both sides aim to resolve the underlying factors contributing to China's substantial trade surplus with the EU.
Will EU press the ‘kill switch’ on China? Trade war looms over talks
EU officials are raising alarms over the escalating trade deficits with China, exceeding one billion euros on a daily basis. The spike in Chinese hybrid-car exports underscores possible gaps in EU tariff policies. Although talks are underway, China shows little willingness to engage in voluntary export restrictions for select products. EU leaders are now considering a 'kill switch' mechanism.
India steel ministry unlikely to seek new curbs on cheap imports, government source says
India's steel ministry has decided against new measures to restrict cheap steel imports for now. The country is dealing with increased imports, primarily from China, which have surged significantly. Domestic steelmakers are facing challenges despite existing safeguard duties and high steel prices. Demand has been rising in the automobile and infrastructure sectors after the monsoon season. Yet, the rising imports remain a considerable risk to the margins of steel producers.
India launches anti-dumping probes into five Chinese products after domestic industry complaints
The Directorate General for Trade Remedies in India is probing complaints from domestic producers about six imported products from China. Accusations of dumping have led to demands for anti-dumping duties. Additionally, the agency is also assessing Insoluble Sulphur imports. This comes as the trade deficit with China intensifies, along with continued investigations focused on multiple products' import practices.
EU, China to hold Beijing talks this week to avert trade war
EU trade chief Maros Sefcovic is set to visit Beijing for crucial discussions regarding trade relations. As European leaders express concerns about unfair competition from Chinese industries, a potential trade war looms. The EU aims to reduce its significant trade deficit with China, which reached around 360 billion euros last year. Sefcovic seeks action on export surges from China and plans to enhance EU's trade defense measures.
Piyush Goyal calls for WTO-compliant approach to correcting global trade distortions at G20 Trade Ministers' Meet
Union Minister of Commerce and Industry Piyush Goyal called for a World Trade Organization-compliant approach to tackle trade distortions and excess capacity during the concluding day of the G20 Trade Ministers' Meeting in Milwaukee, Wisconsin.
Piyush Goyal at G20: India has no ‘structural excess capacity’, rejects dumping concerns based on broad country-wide assumptions
India does not have structural excess manufacturing capacity in sectors flagged by the G20 presidency, Commerce Minister Piyush Goyal said, rejecting broad assumptions that could trigger trade measures. He called for border action to rely on specific, verifiable evidence and comply with WTO rules, while defending India’s manufacturing expansion.
Goyal at G20: India opposes making MFN conditional on WTO obligations
Union Minister Piyush Goyal represented India at the G20 Trade Ministers' Meeting, emphasizing the importance of the Most-Favoured-Nation principle. He stated that equal trading terms are essential for both large and small traders. Goyal expressed India's commitment to addressing trade distortions through WTO-compliant measures and preserving developing countries' policy space for industrialization. India's position on forced labor in global supply chains was reiterated during the discussions.
Piyush Goyal says India does not have structural excess manufacturing capacity
Piyush Goyal said India does not have structural excess manufacturing capacity in sectors identified by the G20, arguing that Indian production caters to both domestic and global demand. Speaking at the G20 Trade Ministers' Meeting in the US, Goyal also stressed WTO rules, supply-chain diversification, forced labour concerns and the need to preserve policy space for developing economies.
Stocks in news: Tata Steel, KPI Green Energy, NLC India, Poonawalla Fincorp and Cummins India
Indian equity benchmarks faced a decline as both the Nifty 50 and BSE Sensex hit six-month lows. The Nifty 50 saw a drop of 64.05 points, or 0.28%, closing at 22,716.20. Notably, Tata Steel announced a favorable tax order and made significant investments in its subsidiary. Other companies including Poonawalla Fincorp and Cummins India reported various corporate developments affecting their market positions.
India to soon release new steel policy, eyes 600 million tons capacity by 2047, secy says
India's government will soon unveil a new national steel policy aimed at boosting steel production. The production capacity is expected to reach 600 million metric tons by 2047. This policy will emphasize premium products and reducing imports to strengthen the domestic market. A separate policy on steel scrapping is also being discussed among various ministries.
Ministry of Finance announces revised anti-dumping duty on imports from Bangladesh and Nepal
The Ministry of Finance on Friday revised its anti-dumping duty on imports from Bangladesh and Nepal. The ministry has prescribed zero duty for specific producers and higher for the rest. The revised duty structure would cover jute yarn/twine, hessian fabric and jute sacking bags, which will apply for the remaining period for the existing anti-dumping dumping duty imposed in December 2022.
India's met coke imports set for record despite anti-dumping levy
India's met coke imports are set to reach a record high this year. Domestic shortages and strong pig iron demand fuel higher overseas purchases. This rise occurs despite an anti-dumping levy imposed in July. Pig iron producers import met coke to avoid duties on exports. met coke prices increased significantly due to rising coking coal costs.
US determines anti dumping, countervailing duty on Indian solar cells, panels
The US has finalized duties on solar cells and panels imported from India. Anti-dumping and countervailing duties were set for several Indian companies. Investigations into crystalline silicon photovoltaic cells are ongoing. The US International Trade Commission will determine injury to American manufacturers. This development occurs as India and the US negotiate a bilateral trade agreement.
US finalises levies on solar cell imports from India, Indonesia, Laos
The US Commerce Department has finalised anti-dumping and countervailing duties on solar cells and panels from India, Indonesia and Laos, citing unfair subsidies and harm to US manufacturers. Indian producers face a 123.04% anti-dumping margin and 126.09% countervailing duty. The USITC will make a final injury determination by October 14.
Govt extends anti-dumping duty on aluminium foil imported from China & 3 other nations till December
India has extended anti-dumping duties on aluminium foil imports. The measure will remain in effect until December 15, 2026. This decision impacts imports from China, Malaysia, Thailand, and Indonesia. The Ministry of Finance issued a notification amending previous customs regulations. This action follows requests from domestic companies concerned about unfair trade practices.
India probing alleged dumping of steel from China, Indonesia, Vietnam
India has initiated an anti-dumping probe into certain steel imports from China, Indonesia, and Vietnam following complaints from domestic players. The Directorate General of Trade Remedies launched the investigation into "Cold rolled flat products" after prima facie evidence suggested dumping caused injury. If established, anti-dumping duties will be recommended to ensure fair trade practices.
China extends anti-dumping duties on Indian chemical for five years
China has extended anti-dumping duties on imports of o-chloro-p-nitroaniline originating in India for another five years. China first imposed the duties for five years as of February 12, 2018 at rates of 31.4-49.9 per cent. According to the MOFCOM website, from 1995 to 2023, India initiated 336 anti-dumping investigations against China.
DGTR suggests anti-dumping duty on import of chemical used in paints from Brazil, Indonesia, Thailand
The trade remedy body under the Department of Commerce has recommended imposing duty between $0.235- 0.906 per kg.
Government may extend anti-dumping duty on cold rolled steel
Government may extend anti-dumping duty of up to 57.39 per cent on certain steel products imported from China, Korea and four other countries.
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