Monday, 24 July 2017

Measures to Improve Balance of Trade

 Based on the applications filed by the domestic industry (DI) for imposition of anti-dumping duty on imports from various countries including China PR, Indonesia, Malaysia, Thailand etc., Directorate General of Anti-dumping & Allied Duties (DGAD) initiated anti-dumping investigations on imports from various countries. The details are as given below:
(as on 14.07.2017)
S.No.
Country
No. of Initiations since 01.01.2012
1.       
China PR
62
2.       
Indonesia
11
3.       
Malaysia
11
4.       
Thailand
10
5.       
Other countries
129
Total
223













           

            From time to time, DGAD receives applications from domestic producers for imposition of anti-dumping duty on various products. After detailed investigations, preliminary/final findings are issued by DGAD based on which, Department of Revenue imposes provisional/definitive anti-dumping duties. As on 14.7.2017, anti-dumping duty is in force in 141 cases (country wise-277 cases) and 54more cases (country wise-131 cases)have been initiated.

Product category wise details of cases is given below:-
(as on 14.07.2017)
S.No.
Product Category
No. of cases in which duty is in force
No. of Cases initiated
1.       
Chemical and Petrochemicals
67 (143)
30 (71)
2.       
Electrical and electronic items and accessories
06 (09)
00 (00)
3.       
Fibre Boards
03 (10)
01 (04)
4.       
Fibres and Yarn
12 (25)
07 (26)
5.       
Glass and Glassware
07 (12)
01 (02)
6.       
Machinery Items
05 (09)
01 (01)
7.       
Pharmaceutical
13 (14)
02 (02)
8.       
Rubber or Plastic products
07 (09)
04 (08)
9.       
Steel and other metals
17 (38)
03 (08)
10.   
Other Products
04 (08)
05 (09)

Total
141 (277)
54 (131)
Figures in bracket denote No. of cases country wise.
Note: In many cases, a single notification/investigation involves multiple countries.
            Details of the trade deficit with China during the last three years and the current year upto April 2017 are given below:-
Bilateral Trade between India and China 2014-15 to 2016-17 and the current year
Value in US$ Billion
S.No.
Financial Year
Trade Deficit with China
1.       
2014-15
48.47
2.       
2015-16
52.69
3.       
2016-17
51.08
4.       
2017-18 (April, 2017)*
4.92
(Source: DGCI&S)    *Provisional

            Efforts are being made to increase overall exports by diversifying the trade basket with emphasis on manufactured goods, services, resolution of market access issues and other non-tariff barriers. This is done through bilateral meetings and institutional dialogues. Indian exporters are encouraged to participate in major trade fairs in China to show-case Indian products.

            Further, many measures have been taken to overcome the overall trade deficit. These include implementation of Merchandise Exports from India Scheme (MEIS) and Services Exports from India Scheme (SEIS), implementation of NiryatBandhu Scheme, Single Window Interface for Facilitating Trade (SWIFT) clearance project as part of ‘Ease of doing Business’, Interest Equalization Scheme in pre and post shipment credit, Special Advance Authorization Scheme, Trade Infrastructure for Export Promotion (TIES) Scheme etc.

            The Foreign Trade Data Dashboard-Trade Analytics has been launched on 10.10.2016. It aims at providing easy access to India’s export/import and balance of trade data in visual analytic format to all the stakeholders including public. It provides an overview of India’s trade dynamics for last five years.

            This information was given by the Commerce and Industry Minister  Smt. Nirmala Sitharaman in a written reply in Lok Sabha today



Courtesy: pib.nic.in

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